This is a scheme that provides the opportunity to either purchase a Buy to Let property, or raise capital against an existing property, without having to make any monthly repayments.
Finance can be arranged for a term of between 1 to 10 years, and the amount you repay is determined by any increase in the value of the property used as security.
This product is normally used to provide capital raising by way of a 2nd charge, but is equally suitable as a 1st charge product subject to the loan to value restrictions.
The maximum loan to value of all borrowing combined is 85% with a minimum loan size of £10,000, the only other restriction is age related, with a maximum age at application of 79 years.
- For Buy To Let clients only
- No monthly payments
- Repayment amount is linked to any growth of the property value*
- 1st or 2nd charge available (1st charge unencumbered only)
- 1- 10 year loan term
- Maximum LTV of 20% (up to 85% combined)
- Minimum loan size of £10,000
- Arrangement fee of 2%
- Maximum applicant age of 79
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