Overview of BTL secured loans

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Overview of BTL secured loans

I predict that this year is going to see a massive increase in BTL secured loans and lenders are already coming to the party. A year ago there were a couple of lenders. Now there are six and more are lining up to join in.

Below is a summary of the latest key features which I hope you find helpful.

Complex
1^st and 2^nd Charges
75% LTV on purchase
70% remortgages and 2^nd Charges
Rates start from 8.45%
Only look at arrears on security property, ignore arrears on other properties
Interest only available over £25000
Rental income must be 110% or 120% of secured loan lending – subject to plan
Can use expected rental income if no AST is in place (use 90% of that figure)
Accept adverse, Expats, no additional income, non standard properties.
All adverse over 12 months old is ignored.
Heavy adverse
LTV – 70%
£100,000 max loan
Unlimited adverse
Regulated agreement – Lower ERCs – a good short term solution
Full income and expenditure including the rental as qualifying income
Rate 15%
Higher LTV
1^st and 2^nd Charges
Up to 85% LTV
Rates from 9.90%
Loans over £100,000 on referral
Min 120% rental coverage, full income and expenditure over 70% LTV
Cross charges considered to support LTV
HMO’s up to 70% LTV

I hope to see more prime products and lower rates in the near future – I’ll keep you posted

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Whole-of-Market Guidance for Btl Second Charge Overview

Securing competitive terms on btl second charge overview requires expert underwriting knowledge. In addition, our specialist broker team works directly with over 90 specialist lenders across the UK.

Consequently, reviewing your btl second charge overview options with an FCA-authorised specialist credit broker ensures whole-of-market access while avoiding unnecessary fees and delays.

Specialist Underwriting & Whole-of-Market Access

Because specialist lending facilities require bespoke underwriting, comparing lenders across the UK is essential. Explore our complete guide to Specialist Lending Desk to understand how different lending criteria apply to your requirements.

Promise Money is an independent credit broker authorised and regulated by the Financial Conduct Authority (FRN 681423). Our experienced team reviews your specific circumstances to secure optimal terms across 90+ UK lenders.

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Key Takeaways: Btl Second Charge Overview Checklist

Additionally, property valuations can often be expedited using automated models, significantly reducing upfront costs and surveyor delays.

Furthermore, specialist secured loan lenders assess affordability using total household income and realistic expenditure assessments.

Consequently, homeowners can secure substantial borrowing amounts even with historic credit blips or non-standard employment income.

Therefore, working with Promise Money ensures you compare optimal rates and terms across 90+ UK specialist lenders.

Specifically, flexible repayment options—including fixed, variable, and interest-only structures—can be tailored to your monthly budget.

Moreover, your existing low-rate primary mortgage remains 100% untouched, avoiding early repayment charges.

In addition, loan proceeds can be used for home improvements, debt consolidation, tax bills, or major personal investments.

Crucially, borrowers facing adverse credit, defaults, or past CCJs can secure competitive homeowner loan terms through our panel.

In practice, our dedicated loan advisers manage the entire application from initial quote through to fund release.

Above all, borrowing against your home equity typically offers lower monthly repayments than short-term unsecured credit.

As a result, homeowners retain complete financial control and enjoy clearer, more manageable single monthly commitments.

After all, independent whole-of-market advice ensures you never pay unnecessary broker fees or inflated interest rates.

Meanwhile, loans from £10,000 to £2,500,000 are available over flexible terms ranging from 3 to 30 years.

Indeed, rapid decision turnaround gives you the confidence to plan major financial commitments without unnecessary waiting.

Finally, clear illustrations provide total transparency regarding interest rates, lender fees, and total repayable amounts.

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