Buy To Let - 1st and 2nd Charge

Specialist Buy to Let – 1st & 2nd Charge mortgages are a type of loan secured against your rented property where you fail to meet the criteria laid out by mainstream mortgage lenders but also want to keep your current mortgage. There can be multiple reasons for this, such as having a poor credit history, non-standard property construction, rental income being your only source, failing to meet the rental income stress test calculations or just something as simple as needing to be Self-Employed long enough.

Independent Mortgages Direct NE has the expertise to find a solution that meets your current needs and circumstances by using a range of innovative and exclusive products from our panel of lenders for the following purposes.

1. Property Investment: If you’re a property investor and already own a property with equity, consider taking a second charge loan to raise funds to expand your portfolio.
2. Home Improvements: Property improvements or renovations can increase the value of your rental property and potentially lead to higher rental income. A second charge loan can provide the capital needed to make these improvements without using your savings.
3. Debt Consolidation: If you have multiple debts, such as high-interest credit card debts or personal loans, consolidating them into a second-charge loan might help reduce your monthly payments and interest costs.
4. Emergency Funds: Property maintenance issues or unexpected expenses related to your rental property can arise. A second charge loan can provide emergency funds to cover these costs without disrupting your cash flow.

Typical rates and Loan Value (LTV) limits are detailed below – please call 0800 035 0095 or click “Get A Quote” for further details.