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Thursday, June 11, 2020

Capital raising in buy-to-let

The buy-to-let remortgage market in very healthy, accounting for around 65% of enquires at Property Hawk Mortgages.
Remortgaging applications may include capital raising – borrowing funds above those currently owed to an existing lender for other uses. Where landlords have equity available, raising additional funds through a remortgage might provide a solution to their modern financial needs.
Lenders can be quite flexible about the purpose of the capital raising and typical reasons include:
  • buy-to-let or residential deposit or purchase
  • personal expenditure
  • property improvement and refurbishment projects
  • debt consolidation
  • business purposes or investments
  • application costs

Some lenders simply state that raised capital can be used for ‘any legal purpose’.
You will need to disclose what they intend to do with the capital raised as lenders will want to know where their funds are goings and that they’re being used appropriately. The client may need to provide evidence too. For an onward purchase, a decision in principle illustration may be requested.
Property Hawk Mortgages offers a diverse range of remortgage products including free valuations, paid legal fees and up to 80% lending to meet your capital raising needs.
Use our free online mortgage search tool at Property Hawk Mortgages
Property Hawk Mortgages is a specialist in the buy-to-let mortgage market. We have a wealth of knowledge and are dedicated to helping UK landlords find the best financial products and services available to them.

Please let us know how we can support you, we are here to help.
Call us now on 029 2069 5446

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