We secured a £35,000 second charge loan on a BTL property, using personal and rental income to arrange funding where the existing lender couldn’t assist.
A client looking to purchase a new home needed to raise £35,000 from their existing buy-to-let property, which was partly occupied by family members and private tenants. Their current lender was unable to assist, as the rental income alone didn’t meet affordability criteria. With a tight 3-week deadline, they needed a lender who could offer a more flexible solution.
We worked with Step One, who took a more tailored approach by assessing the client’s personal income alongside rental income. This allowed us to secure a second charge loan of £35,000, ensuring the client could move forward with their purchase without delays. This case highlights the importance of specialist lending solutions when traditional lenders fall short, proving that with the right approach, even complex cases can be solved efficiently.
