Ask an Expert
Ask an Expert Can I re-mortgage with a high loan to value?

Can I re-mortgage with a high loan to value?

Q: I have a 2 bed lower ground floor flat in SW7 (South Kensington). Value approx £700,000. Outstanding mortgage approx £540,000. Current interest rate 5.0%. I wanted to remortgage if there is any better rate. I would like to borrow £570,000. I have a clean


If you need to borrow £570,000 on the rental property, it wouldn’t be possible because the amount is more than 80% of the property’s value. It’s possible to borrow £560,000 which is exactly 80% of the value, from a small handful of mortgage lenders. Most lenders will only consider a buy to let mortgage up to a maximum of 75% of the property value. In your case, that is only £525,000 which is less than you already owe your current lender. There is a variable rate deal at 4.20% to a maximum of 75% of the value, but there is a fee of 2.5% of the loan, so if the objective was only to save the cost of carrying the debt, then you’re probably better off keeping the debt at 5% and avoiding this large fee.

These questions are for information purposes only and do not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration
Return to the Questions archive

Latest Articles/News

Case Studies

Unusual properties can capture the imagination and provide incredible homes…

Latest/Related News

It could hardly be a shock to anyone today that the Bank of England chose t…

Press Release

On Friday 14th June 2019, was thrilled to be crowned…

Press Coverage

Equity Release “gives people choice”…

LML Brochure

Download our brochure to find out more about and what we can offer

Click to Download

Sign Up

Subscribe now, to hear from us on the latest mortgage market news, products and services.

Client Testimonials


Live chat with
our team now