15:05 PM, 29th July 2015, About 6 years ago
For many Buy to Let borrowers raising finance by way of a second charge loan can be far better than leaving an existing very low reversion rate and re-entering the cycle of remortgaging every few years with an incrementally higher rate at the end of each mortgage product term.
Precise Mortgages have launched a new range of second charge loans to help investors raise equity for any purpose without the need to remortgage.
Minimum loan amount £5000 and Maximum £150,000
Maximum Loan to Value 65% – 75% dependent on product
Lifetime tracker products start at BBR + 5.45% up to BBR + 6.45%
Fixed rates start at 6.35% up to 7.85% for a 5 year 75% LTV product
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