Jason Bailey

Expertly compared by Jason Bailey

Products Updated December 2, 2019

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Buy to Let Secured Loans

Landlords get the best deal on buy to let secured loans from our award winning experts. They will search and compare the marketplace to bring you the lowest rates that match your needs. All credit types accepted from a wide range of second charge lenders including HMO’s, holiday lets and semi commercial rental properties.

Homeowners - Our award winning experts can compare the cheapest loan deals from over 19 approved Lenders. All credit types considered:

Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on a loan or any other debt secured on it.

1 providers expertly compared:

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All credit types
Rated 4.9/ 5

Feasible.co.uk

Loan Amount
£3,000 - £500,000

Representative APRC
From 3.9%%

Loan Term
3 - 30 years

Loan Type
Secured Loans

Status
Homeowners & Tenants

Feasible.co.uk are our approved second charge mortgage specialist brokers who working alongside their award winning partners can search the market place to find you the cheapest loans on the market. They can arrange homeowner loans for any purpose including popular options such as debt consolidation, home improvements. Solutions for bad credit applicants and the self employed.

Read our customer and visitor reviews for this product:
Rating: 4.6 / 5 with 30 votes
Found the right mortgage I was looking for
by Mrs Dale

Had a very positive experience using the mortgage pages. Thankyou.

Secured loan quote
by Sarah Hinde

Received a secured loan quote and found the website very simple and easy to use. Would be happy to use again.

What you need to know about secured loans on buy to let properties

Secured loans are available on buy to let investments

Secured loans are available on buy to let investments

If you have equity tied up in a buy to let property and you are looking to expand your portfolio then there are a couple of different options you can potentially use. There is the traditional secured second charge loan, but there is now also a new ‘top up’ mortgage loan that is available if your financial circumstances permit it. These types of loans are popular with professional landlords and self employed contactors who wish to raise equity from their portfolio.

Why take out a secured loan on your rental property?

The main reason you would want to take out a secured loan on a buy to let property would be to use it as a deposit for another buy to let property so that you can grow your portfolio. These secured loans are also known as ‘second charge’ loans as they are the second loan that you will have against that particular property, with your mortgage being your first charge loan. These loans allow you to take out a secured loan of up to 75% of the value of the property, using the property as security for the loan. This is probably the easiest way for you to generate a deposit for your next buy to let property, but make sure that you keep a close eye on your finances and ensure that you are able to meet the repayments on both of the loans as otherwise you will find yourself getting into difficulties. £30,000 loans and above are the most popular amount borrowed over 20 years.

Things you should think about before you take out a secured loan

If you have a high loan to value ratio on your buy to let property you will need to do some careful financial calculations before you start to consider taking out a loan to provide a deposit for a another property. To ensure that you know exactly what your options are in terms of loan amounts and the interest rates you will have to pay on your loan.

Loan Calculator – how much will it cost?

This calculator will give you an idea of costs. The exact amount and APR payable will be provided from the lender subject to credit and affordability checks.

Your monthly payment will be:

£136.90

Interest on this loan will be:

£714

Annual Percentage Rate (APR):

3.7%

Total repaid will be:

£8,214

Which lenders are available?

Our brokers have access to the majority of the lenders who borrow against buy to let property in the market. They have direct relationships and some exclusive rates with the most of the well known second charge brands in the marketplace such as:

The ‘top up’ mortgage option

In addition to the traditional secured loan there is also now the option of taking out a top up mortgage loan. This allows you to borrow up to 20% of the value of your property as long as the combination of your mortgage and your loan does not exceed 85% of the total value of the property. This works in a different way to a standard secured loan in that you don’t actually pay any interest on the loan for the term of the loan, but at the end of the loan you repay the loan plus a relatively complicated calculation relating to the increase in value of the property that you then pay to the lender as a form of interest. This is a very popular option.

Questions? If you’re unsure which buy to let secured loan is right for you or you need some guidance on secured loans then speak to our BTL experts on 0161 820 8099.
Their friendly advisors will be happy to discuss which options are available and to answer any questions you may have.

 

FAQ's

Do I require proof of income?

No. We can still help secured a loan against you buy to let even if you have no proof of income.

Is there a minimum property valuation?

No.

Does my BTL property have to be lived in?

No, loans can be secured against property that is uninhabitable.

What proof of rental income is required?

Your tenancy agreement (AST) can be used to evidence rental income on your buy-to-let with no further proof required.

What is the maximum loan to value?

The maximum is 75% loan to value on buy to let property. However, for none BTL this can rise to up to 95% from some lenders.

Can you accept applications from ex-pats?

Yes many lenders will accept ex-pat landlords.

What is the maximum age limit?

80 years of age depending on the lender.

Do you accept adverse credit applicants?

Yes. If you have adverse credit then there are a selection of lenders who are willing to lend against your buy-to-let. Interest rates will be higher, however borrowing options do exist.

Can I get a buy-to-let loan on my Limited Company?

Yes. Buy to let secured loans are available within Limited Companies (LTD's).

What is the minimum loan value?

£10,000 for buy-to-let application.

What type of property can a loan be secured against?

Loans can be secured on houses including ex-council, flats and maisonettes including High Rise, HMOs & Non Standard Construction.

Is adverse credit accepted?

Yes, some bad credit issues are accepted including CCJ's IVA's, missed payments, defaults, bankruptcy.

Are secured loans available for the self employed?

Yes - buy to let second charge loans are available for self employed applicants with or without proof of income. Some lenders also do not require a credit check.


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