February 1, 2016

Buy to Let and Second Homes

Equity release is sometimes available for Buy to Let Landlords and owners of Second Homes. The market for these plans is limited and at the moment this is NOT available. Please contact us to ask to be informed when this changes. The lifetime mortgage enables property owners to release equity from up to five properties without disrupting the income stream from the rent. An Assured Shorthold Tenancy (AST) must be in place.

This appeals to clients who don’t want to use their main residence or for those who have entered sheltered accommodation or a care home but have kept their house and rented it out. FSA regulated plans and SHIP plans must be on an owner occupier basis. This means that this plan is not regulated by the FSA, however, it offers similar legal safeguards including a ‘no negative equity guarantee’.



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