Remortgage with capital raising

[Casa1862]

I’m looking to remortgage one of my BTL’s and use the additional funds to purchase another BTL, however I’ve not found anything suitable yet, has anyone done this and the lender simply transfer the additional funds into the customers bank rather than a simultaneous remortgage and purchase?

I’m currently looking at Accord and The Mortgage Works but pointless playing around with figures if they don’t supply the funds the way I need, would like to stick with mainstream lenders.

Currently about 50% LTV, want to take it up to 75%, house worth £235k, current mortgage £117k, would like about £160k, current rental income is £950, BR taxpayer.

[dazwalsh]

Yeah I owed my mum 50k, I remortgaged an unencumbered btl through the mortgage works and money was in my account in a few weeks. Not even sure if they asked me what I needed the money for but would have just said purchase of another property.