A tenant has moved out? The property is empty? The landlord wants to refresh it before putting it back on the rental market?
No problem — we can still consider a second charge BTL term mortgage on a vacant BTL property.
What can we consider?
- Light works only
- Affordability is based on rental figure stated on the AVM or Valuation report
- Evidence of three months’ rent held in the bank which covers both 1st charge and our 2nd charge
- LTV 75%
- Internal Legals for LTD company and Personal name Borrowers
A vacant property doesn’t always mean it has to be a bridging loan.
Have a vacant BTL case you would like us to look at?
Speak to your Mercantile Trust BDM today.
Nina Kainth
Head of Sales
nina.kainth@mercantiletrust.
01923280297 | 0756220985