BTL Refinance Exit
Very CommonRefinance to a Buy-to-Let mortgage on completion
What Lenders Need
- Rental income projection or AST agreements
- Property must meet BTL mortgage criteria
- ICR (Interest Coverage Ratio) calculation
- Agreement in Principle from BTL lender (preferred)
Key Considerations
- Property must be lettable condition at exit
- HMO needs appropriate licensing for BTL
- Some BTL lenders have minimum lease requirements
- AIP strengthens the exit evidence
Lenders Accepting This Exit
| Lender | Rate From | Max LTV | Notes |
|---|---|---|---|
| Shawbrook | 0.49% /mo | 75% | Can offer BTL term loan in-house |
| Glenhawk | 0.50% /mo | 75% | Strong on investment cases |
| Together | 0.52% /mo | 75% | Flexible rental calculations |
| United Trust Bank | 0.48% /mo | 75% | Good for HMO to BTL exits |
| Precise Mortgages | 0.55% /mo | 70% | Seamless bridge to BTL product |
| Aldermore | 0.58% /mo | 70% | Internal BTL refinance available |
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