Portfolio landlord remortgage releasing funds from home to reduce debt on buy-to-let properties
Key features:
- Equity released from home to pay down investment properties
- Mortgage agreed with bespoke broker-only lender
- Landlord had more than ten buy-to-let's
Our client
Our client was a financial adviser with a portfolio of buy-to-let's. She wanted to refinance her home to reduce the debt on some of her investment properties.
Why was it difficult?
She had struggled to find a lender because she had more than ten buy-to-let properties, and was looking for a lender to use the rent she receives as well as income from her other job.
How did we help?
Trinity’s broker approached a range of banks and building societies and many of them would not provide a large enough mortgage. He contacted a bespoke lender available to a limited number of brokers, and they were happy to use all her income for the £400,000 mortgage.
What was the rate?
A 1.32% fixed rate until 30 April 2022. The rate reverts to the lender's standard variable rate of 4.09%. The overall cost for comparison is 3.5% APRC. The arrangement fee was £1,495 and early repayment charges apply until 30 April 2022.
Call Trinity Financial on 020 7016 0790 to secure a remortgage or book a consultation
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