Mortgages for Business is committed to keeping both our staff and clients safe during the COVID-19 outbreak while maintaining the best service possible. Our teams are working from home, but don’t worry, you can still contact us in the usual ways.
To read our comprehensive FAQ guide on how the emergency interest rate reduction and Coronavirus outbreak could affect your mortgage, please click here.
If you want to request a payment holiday, please contact your lender directly. For lender contact details, click here.

Can I use the equity on my home as a deposit for an investment property?

Yes, if you have sufficient equity in it. To get a buy to let mortgage you will need to provide a deposit of at least 15-25% of the purchase price. To raise the finance using your home you can either ask your current lender for a further advance on your existing mortgage or you can remortgage your home to access sufficient funds. In both cases the lender will require your home to be formally re-valued.

Remortgaging to access equity is a common strategy used by property investors to grow their portfolios. However, to work out which route is best for your circumstances, talk to a buy to let mortgage broker who can do the calculations for you.

NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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