With demand remaining high and rental prices continuing to rise many landlords are looking to expand their portfolio. A remortgage of an existing property is one way in which a landlord may choose to finance the purchase of a new property. However, for a number of high street lenders portfolio landlords can be an uncomfortable risk. Finding a lender that can offer suitable interest cover ratio to maximise the amount of potential borrowing without heavy underwriting on the background portfolio can be a challenge. A specialist lender is more likely to take a pragmatic approach to the risk.

Here at West One our approach to background portfolios is simple. We do not undertake a formal stress test on background portfolios, the property simply needs to be self-financing. No additional verification like E-Tech or EDM are required and there is no cap on the size of the portfolio. We can consider portfolio exposure limit of up to £10m.

At West One, we apply an individual approach to underwriting to ensure we review each case on its own merits, ensuring we support clients with the smooth and secure remortgage they require.

To discuss a case or register as an introducer please get in touch with the West One team here: https://www.westoneloans.co.uk/buy-to-let-mortgages#introducer