Hi All, I have two local BTL properties underway and want to use the recent remortgage proceeds of around 40K to buy two further 200K properties at 85-90% LTV to develop and sell on. My concern is that a 'standard' mortgage broker will baulk at the amount I want to borrow (360K ish) in one go - for my last two properties the lenders have been careful about making sure there is rent to cover their loans. I want to ask what routes you use to find this level of finance, e.g. specialist BTL lenders, banks etc. that are outside the more 'domestic' brokers/lenders that I've used in the past. Thanks for any feedback...

I'd make my first call Phil Wilson at The Money Centre. They had a link on this website to them from the resources menu in the previous incarnation. I assume it's still there. Very grown-up and businesslike.

Jerry, thanks for the reply, will do - it's more of a 'business loan' I suppose rather than a straight BTL even...

Neilh, To raise money I consolidated all my savings and gave them to HSBC to invest (About 550K U$D) In return they gave me a 70% loan on that collateral as a mortgage over 15 years. This was enough to buy a property in Moscow where I could not get a loan from any broker in Europe. Now I want to raise more finance but I have no further collateral to use as guarantee so I understand the problem. To obtain more finance I presented HSBC with a business plan for two BTLs but they were not interested. BTW I do not recommend HSBC I think I could have got a better percentage from other banks and the whole process took 6 painful months.

John, that's interesting as there are a lot of references on property programmes to approaching the bank for more finance etc. I would have thought that a bank would be in the market for such an advance but the impression I get is that they're reluctant. Wondering what others do...

WQhen I talked to Phil a while back, he could place both development (buy, fettle and sell) and refurbishment (buy, fettle and keep/let) loans with lenders.

Does anyone know a really good UK Accountant (for doing my property accounts and taxes) and a BTL mortgage broker as I want to look at releaseing a more equity for expansion on EE in the next 3-18 months. Let me know. Thanks

just trying a new broker @ the moment who seems good .... will let you know once first one has been sorted

just trying a new broker @ the moment who seems good .... will let you know once first one has been sorted

Gerry, thanks for the lead - seems like the best place to start... Neil