Main Menu Button
Login

Just announced – BTL’s – no consent

BTL’s – no consent

We just want to tell you about this new second charge product which has come out today.

You will undoubtedly have problems placing second charges cases behind certain BTL first mortgages as the lender won’t consent to a further charge.
A few of the first charge lenders which normally withhold consent include Santander, Mortgage Works, Platform, Paragon etc.
There are others – call me if you are unsure.

This new product specifically solves the problem and at rates lower than previously available.

  • Max loan of £50,000
  • Max LTV of 65%
  • 1% loading on the rate but otherwise subject to meeting lenders standard BTL criteria.

If consent is withheld due to arrears we can accommodate those too.

This new product is just one of the lenders which doesn’t require consent from the first mortgagee.
We can place both residential and BTL cases plus at higher LTV’s if required.
If consent is the problem, please call us on 01902 585052.

www.promisemoney.co.uk

01902 585052


    Find a buy-to-let mortgage

    Enter some details and we’ll compare thousands of mortgage plans – this will NOT affect your credit rating.

    How much you would like to borrow?

    £

    Type in the box for larger amounts

    For how long?

    yrs

    Use the slider or type into the box

    Do you own property in the UK?

    About you...

    Your name:

    Your forename:

    Your surname:

    Your email address:

    Your phone number:

    Notes...


    By submitting any information to us, you are confirming you have read and understood the Data Protection & Privacy Policy.

    Latest Articles


    Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status.

    More than 50% of borrowers receive offers better than our representative examples

    The %APR rate you will be offered is dependent on your personal circumstances.

    Mortgages and Remortgages

    Representative example

    Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66

    Secured / Second Charge Loans

    Representative example

    Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20

    Unsecured Loans

    Representative example

    Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.


    THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

    REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.


    Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774
    Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG

    Authorised and regulated by the Financial Conduct Authority – Number 681423
    The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages

    Website www.promisemoney.co.uk