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A buy to let secured loan allows landlords to borrow money using the equity that’s in their buy to let property, or portfolio of properties.
Buy to let secured loans are a useful source of borrowing for many landlords, as they can be used for a variety of different reasons.
Whether you wish to renovate and make home improvements to your current properties, raise funds to invest in another buy to let property or even consolidate your debts, we can help find a loan suitable for your needs.
It is important to note that the property that the loan is secured against acts as a form of security for the lender. This means that if you were unable to keep up with the monthly repayments, the lender could seize repossession of the property.
The amount you can borrow relies on the available equity that’s in your property. Equity is the portion of your home that you own outright free from any mortgage.
At Mercantile Trust you can borrow as little as £10,000, up to a maximum of £500,000, with repayment terms from 3 to 25 years. It’s easy to apply, simply fill out our application form, or call the number at the top of this page.
Whilst a secured loan on a buy to let property can give landlords the funds they require, it is important to note that mortgage offers are dependent on various factors. Lenders will look at an applicant’s personal circumstances, such as their income, credit history and outgoings.
Having a poor credit profile doesn’t mean that you will struggle to obtain a buy to let secured loan, however you may find there are less lenders that can help you.
Although some lenders may not be able to assist, we have and can help individuals with poor credit profiles. We consider all credit histories including those that have:
Applying for a secured loan on a buy to let property is a straight forward process which can be completed online by following our application process or by calling one of our qualified advisors using the number at the top of this page.
It’s important to remember that your property may be repossessed if you fail to repay your mortgage.
Please note that in order to assess your application and provide you with an accurate quote, we will request further information from you on submission of your application. Calls may be recorded for training and monitoring purposes.