"> Can I re-mortgage with a high loan to value? | largemortgageloans.com
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

It’s no exaggeration to call our client base truly international, and eac…

Latest/Related News

One of the elements which sets us apart from other mortgage advisers is our…

Press Release

The team at largemortgageloans.com has collectively been nominated for thre…

Press Coverage

Lock down your finances for the coming storms…

LML Brochure

Download our brochure to find out more about largemortgageloans.com 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