What Is Alternative Funding
There are other ways of raising finance on a property. There is a great concept where we have access to lenders who will lend on buy to let properties for capital raising and the criteria to raise this finance is fairly simple. As long as your rental income is covering your current mortgage payments at 125% then and you have enough equity in the property, you could potentially borrow more money on those buy to let properties without disturbing your current mortgage. You can capital raise money for business purposes this way aso
Is Alternative Funding Right For You
So if you have a mortgage on a variable rate which is below the 2% mark hen its generally not worthwhile remortgaging to raise money (unless its more financially viable to) but there is a lender who potentially can lend you more money for any legal purpose. They are the ONLY lender in the marketplace who can do this. It depends on which lender has the original mortgage which dictates whether you can borrow the extra money because the first charge mortgage company may not allow you to have another lender hold a loan on the back of theirs on the property (i.e. a second charge or secured loan)
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