Remortgaging BTL criteria
Lending criteria
Remortgaging
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Loan purposes for remortgaging
For all remortgages the property must have been owned by the applicant(s) for a minimum of six months.
Acceptable loan purposes:
For capital-raising remortgages the following are permitted:
- Debt consolidation BTL criteria
- School fees
- Holidays/cars
- Purchasing another property
- BTL business purposes
- Home Improvements
Please note there are specific restrictions for top slicing cases.
Unacceptable loan purposes:
The following loan purposes are unacceptable:
- Non BTL business purposes
- Guarantor supported mortgage
- Right to Buy/Acquire
- Shared ownership or equity
- Sheltered Housing Schemes/retirement villages for elderly
- Lifetime mortgages
- Bridging loans
- Government Homebuy
- Tenants incentive
- Regulated BTL (family tenants)
- Concessionary purchase
- Gambling
- Personal business use
- Unsecured debt consolidation where the LTV is >75%
- Payment of tax liabilities
- Office conversions
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