Specialist lender ModaMortgages has announced it is now accepting day-one remortgages for bridge exit applications across its core and limited edition buy-to-let product ranges.
The lender will also accept applications for capital raising where the applicant has sufficient equity in an existing property.
Landlords can borrow between £25,000 and £2m, with LTVs of up to 80% available. Products are available to individual landlords, limited companies, those with small or large portfolios, first-time buyers, and first-time landlords.
“As the home of smarter, faster, simpler buy-to-let borrowing, we’re excited to announce this latest criteria enhancement, which offers brokers even more ways to support their clients," said ModaMortgages’ group sales director Darrell Walker (pictured).
He added, “This could be perfect for landlords who purchased a property via a bridging loan for the purpose of letting it out and have enhanced or improved it, which has increased its value and are now looking to exit onto a longer-term buy-to-let mortgage. It could also be ideal for those who need to raise capital quickly for other purposes, such as purchasing another investment property.”
