FAO Sarnie

[CaptainSlow]

Hi, looking for a remo on my residential and release some equity to fund a b2l at the same time. Current lender won't do additional borrowing for b2l purposes.

Is this possible, would a new lender be open to this? Would make a <60% ltv on the new loan.

[smckeown]

I would have listed the reason being home refurbishment and not btl

[Maryben]

smckeown said:

I would have listed the reason being home refurbishment and not btl

But mortgage fraud is quite a serious criminal offence !

[CaptainSlow]

Quite, has to be above board.

[russ_a]

Is it fraud to spend the money on something else?

[Sarnie]

CaptainSlow said:

Hi, looking for a remo on my residential and release some equity to fund a b2l at the same time. Current lender won't do additional borrowing for b2l purposes.

Is this possible, would a new lender be open to this? Would make a <60% ltv on the new loan.

Hi mate!

It's certainly possible. Some lenders will want to know more about the finer details such as if the new BTL will also have a mortgage (therefore impacting your affordability) or is it going to be owned outright etc.

Drop me a PM for a chat if you like?

[CaptainSlow]

thanks, will do