Discover how our strong lender relationships and deep industry expertise enabled us to support a returning client in securing a product transfer and additional borrowing of £217,000, despite a mortgage breach. Our expertise helped them avoid costly variable rate charges and covered the funds needed to complete their building work.
At a glance:
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A landlord nearing the end of a fixed-rate term and seeking a remortgage solution
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An unintentional breach of mortgage conditions caused by undeclared development on the property’s land
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Successful product transfer and negotiation of £217,000 in additional borrowing to complete the build
The case:
We’d previously helped our client purchase an 8-flat, single-titled multi-unit. The property came with a generous plot of land, on which our client got planning permission and part-built a two-bedroom bungalow.
They were now looking to remortgage the multi-unit as they were nearing the end of their fixed term and wanted to raise additional cash to fund the remaining work on the new build, and bring it up to a lettable standard.
However, unbeknownst to our client, building a property on the land without informing the lender breached the terms of their existing mortgage. This change to the original property configuration made it extremely difficult to remortgage, as most lenders would view it as a significant risk.
The challenges:
The key challenge in this case was remortgaging the property despite our client unintentionally breaching mortgage conditions, while also raising the money our client needed to complete the work.
Fortunately, our strong relationship with the client’s current lender allowed us to discuss the case with the underwriters and risk department. Having vouched for the client, we secured the product transfer and additional borrowing of £217,000 to cover the building costs, an exceptional outcome given the circumstances.
Throughout the process, we maintained close communication with the lender, providing regular updates on the progress of the works to ensure all conditions were brought back into alignment. This proactive approach enabled us to secure our client's finance buy to let remortgage and avoid them rolling onto the lender’s costly standard variable rate.
MFB's perseverance and market knowledge have put our clients in a great position to invest in more properties, and we’re now assisting them in raising capital from a previously unencumbered property to help with this.
The finance:
Property value: £785,000
Loan amount: £588,750
LTV: 75%
Rate: 5.29% fixed for 5 years*
Term: 19 years, interest-only
Monthly mortgage payment: £2,783
Monthly rental income: £5,416
Gross yield: 8.27%
Lender arrangement fee: £3,238
*Rate as at August 2025 and subject to change.
The review:
I had a complex case, a remortgage, new build and capital raising in one case. No problem for MFB. Dillon, Alice and Frank worked with me to ensure it went smoothly at every stage of the process […] Great outcome. Thank you for all your support during the difficult period for me. Thank you, Dillon, Alice and Frank.
Next steps
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