Borrow more

You could borrow up to 80% of the value of your property

If you already have a Buy to Let mortgage with The Mortgage Works and want to borrow more, you could borrow up to 80% of the value of your property (including your current mortgage).

You can view the rates available for all our mortgages by downloading the Buy to Let rate and criteria guide.

If you’re not sure on something or you’re ready to borrow more on your mortgage, you can call our expert Buy to Let team on 0345 607 30 21 who are ready to help.

What you can use the money for

  • Home improvements (to the property address or another property)
  • Purchase of new property
  • Purchase of land
  • Transfer of equity
  • Debt consolidation (only available if you apply through a broker)

You can’t use the money for business purposes.

If you're over the age of 70 and your LTV is over 65%, we’ll only consider applications for essential/structural repairs to the property.

To borrow more, you need to make sure that

  • You're a Buy to Let customer
  • You've owned and let the property for at least six months
  • You've been making full monthly payments on your mortgage for at least six months
  • You haven't been in arrears during the last 12 months, and no more than two months in arrears during the last period of arrears
  • You intend to borrow at least £2,500

We won’t accept applications to borrow more in the following circumstances:

  • If you have a product switch application in progress
  • Raising money for business purposes
  • More than two people on the mortgage
  • Where the mortgage is in the name of a Limited Company
  • Where the property will be rented out to an immediate family member

Rate switches and borrowing more

  • If you're also looking to switch your mortgage deal, borrowing more first might mean that any subsequent rate switch may be charged at a higher rate due to the increased loan to value.
  • If a rate switch is completed first, we can't guarantee that an application to borrow more will subsequently be accepted.

Want to apply?

We’re ready and waiting to discuss your options. Call 0345 607 30 21 and our experts will support you throughout your application. 

If you need advice, contact your broker or find an Independent Financial Adviser (IFA).

Mortgages are secured on your property. Think carefully before securing other debts against your property. You could lose your property if you do not keep up payments on your mortgage.