Buy to Let Capital Raising Remortgage

Posted on 19 January 2011 by Debbie

I've just bought a second BTL property which is unmortgaged, however, I'd like to raise capital against it (around 45%) for various reasons including refurbishing it and paying off a couple of credit cards. How soon after completion can I raise capital against it?


There are a very limited number of Lenders who will consider a remortgage as soon as you appear as the registered owner at the Land Registry.  If you are able to wait 6 months then you will have a far greater choice of Lenders and interest rates.

I note that you intend to raise the money for refurbishing the property and depending on whether or not the property can be let in it's current condition this may prevent you from obtaining a mortgage now. It is possible to raise finance in other ways to get the refurbishment work carried out and then arrange a mortgage to repay this.

I recommend that you speak to an independent mortgage broker about your situation and the different options available to you.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

You are currently offline. Some pages or content may fail to load.