Now accepting Day 1 Remortgages for Buy to Let and Residential loans
We are pleased to announce that we now support lending where customers wish to remortgage a property shortly after purchase.
The proposition is aimed at clients looking to remortgage shortly after they have, for example, purchased a property at auction, or have bought a property where a standard mortgage was not initially possible.
Key points include:
- Lending can be based on current property value – if verified works have been carried out and evidence provided. If not, loan will be assessed at the initial purchase price
- Maximum 75% LTV
- Standard pricing to apply
- Customer(s) to be on the voters roll for residential applications
- Not available for New-build purchases – defined as properties that are less than two years old (from the date of practical construction) which have not been lived in
Please note that we will:
- Undertake a Land Registry Search to confirm the applicant(s) owns the property
- Where this is not available, request confirmation of the Land Registry submission confirming the purchase, date and price via the acting solicitor
For more information on our Day One Remortgage, please visit our product pages.