Have you considered a second charge on your customer's buy-to-let property?

Buy–to–Let properties can hold hidden potential when it comes to secured finance. Don't miss out.

When we talk about secured loans, the main focus is often on securing the money against someone’s residential property, mainly because they’re seen as an alternative to remortgaging your property. However, there are plenty of opportunities for those who have properties that they let out.

Brokers can often shy away from secured loans across a portfolio of properties, but that’s where using a Master Broker, such as Norton Broker Services, can be used to your advantage. We have the lenders, resources, expertise and time to invest in the more complex cases, to help you get the pay outs that you previously have discarded.

We’re sure most of you know there are two types of buy-to-let secured loans:

• Non-Consumer – a property you purchased for private rent; these loans are not regulated by the FCA.
• Consumer – a property you have previously lived in; these loans are regulated by the FCA.

Norton Broker Services have options for both types of properties, giving your customers plenty of choice.

But why opt for a second charge on a buy-to-let property or properties?

• Alternative to a remortgage – good rates or high ERCs may mean that a remortgage isn’t the best option.
• Remortgage declines – secured lenders can be more flexible on their criteria than first charge lenders.
• Affordability – some lenders will consider using earned income to supplement rental.
• Credit profile – if a customer has missed payments, CCJs or defaults, we have lenders that will consider the application.
• Portfolio lending – multiple properties can be used to raise funds.
• High LTVs – lenders will consider properties up to 85% LTV.
• Lending for any legal purpose – many secured loan lenders will lend for any legal purpose, including: tax bills, property purchase, school fees and business purposes.

If you have a buy-to-let case that’s stuck on your desk, give us a call to see how we can help on 01709 321665.