Borrow more

You may be able to borrow more money to make changes to your Buy to Let property with our further lending deals. If you’re looking to make improvements to your property, or perhaps raise funds to purchase another Buy to Let - whatever your investment plans are, we’re here to help. Additional fees may apply.

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Buy to let

If you’re thinking of applying to borrow more, you’ll need to speak to us so we can assess your current financial situation.

As part of the application process, we’ll ask you to confirm:

  • Your current rental income
  • The estimated value of your property
  • Details of your income and current financial commitments (including outstanding amounts and monthly payments).

To save time and make things as simple as possible for you, it’s worth having these details to hand before speaking to us. You can even schedule a call back while you’re getting the information together.

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*Calls are recorded for training and monitoring purposes. Lines are open 9am– 5pm Monday to Friday. 03 calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages.

It’s important that any Buy to Let loan is affordable for you, so that it makes financial sense and doesn’t put you at unnecessary risk.

To help make sure this is the case, we work out the affordability of a Buy To Let loan mainly based on the expected monthly income from letting the property to a tenant. In certain scenarios we may also be able to take into account your personal income, subject to our lending criteria.

The actual income generated (which must be received in £GBP) may be different, and can be affected by changes in the rental market over time. It’s worth noting that if this happens, you’ll still be responsible for meeting the costs of your loan and any additional costs from letting the property.

  • How much extra can I borrow?

    You can borrow between £5,000 and £500,000 extra, subject to our lending criteria.

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  • How long can I borrow the money for?

    You can borrow the money for any term up to 35 years (subject to current lending criteria). The minimum term for the extra borrowing is 2 years.

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  • Will I have to get my property revalued?

    Yes, in most cases we’ll need a valuation of your home and you’ll be charged a fee for this. Take a look at our Tariff of mortgage charges for more details. In some cases we may not need to revalue your home, although this is subject to our lending criteria.

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  • Will I be credit scored when I apply to borrow more?

    Yes, we’ll need to credit score all parties listed on the mortgage as part of the underwriting process.

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  • Are there any restrictions on what I can borrow the money for?

    You can borrow up to 90% Loan to Value for a variety of reasons, such as home improvements. However, we do have some restrictions.

    For example, you can only borrow up to 75% Loan to Value (LTV) for debt consolidation and can’t borrow more for business reasons or speculative lending (such as stocks and shares).

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A ‘receiver of rent’ may be appointed and/or the property may be repossessed if you do not keep up repayments on your mortgage