£527,500 Buy-to-Let Remortgage Secured at 59% LTV in London
A portfolio landlord needed a buy-to-let remortgage in London to repay the existing lender and release capital for the next purchase. The lender's offer came with a condition: damp works had to be carried out on the property before it would lend. A2Z kept valuer, lender and solicitors moving in step until the condition was cleared — and delivered a £527,500 facility at 59% LTV, fixed at 5.64% for 5 years, interest only.
Deal Snapshot
The Client Scenario
The client is an experienced portfolio landlord borrowing in their own name, with a simple two-part objective: repay the existing lender on a London rental house and release capital to fund the next purchase. The security was a buy-to-let house valued at £900,000 and let at £42,000 a year.
On paper, this was a clean buy-to-let remortgage. At £527,500 the loan sat at just under 59% LTV, the rent covered the interest comfortably on a 5-year fixed, and the borrower's track record as a landlord gave the lender nothing to question on experience.
The complication surfaced at valuation. The lender made damp works a condition of the loan — meaning the property had to be treated and signed off before funds would be released. That turned a straightforward refinance into a transaction with an extra workstream, an extra set of contractors, and an extra reason for the lender to pause.
For a portfolio landlord, the cost of that pause is real. The capital raise was earmarked for the next acquisition, so every week the remortgage sat waiting on works was a week the next deal couldn't move. The task was to get the condition cleared and the loan completed without the offer lapsing in between.
What Could Have Gone Wrong
Works conditions are one of the quieter ways a buy-to-let remortgage falls apart. The offer is issued, everyone relaxes, and then the file sits — waiting for a contractor, a re-inspection, a valuer's sign-off, or a lender's legal team to confirm the condition has been met. None of those parties works to the borrower's timeline unless someone is chasing them.
On this London case, the specific pressure points were:
The Solution
A2Z took ownership of the timeline. Rather than letting the works condition sit between three parties, we liaised directly with the valuer, the lender and the solicitors so each knew exactly what the others needed and when — and we pushed the lender to move to completion the moment the condition was satisfied, not weeks after.
The result: a £527,500 buy-to-let remortgage with Quantum Mortgages, fixed at 5.64% for 5 years on an interest-only basis, against a £900,000 valuation — a 59% LTV facility that repaid the existing lender and released the capital the client needed for the next purchase.
Got a buy-to-let remortgage with a works condition attached?
Damp, roof, electrics, retention — we manage the valuer, lender and solicitors as one process, so a condition on the offer doesn't become months of silence.
A2Z Bridging Ltd is authorised and regulated by the Financial Conduct Authority · FRN 808769
The Outcome
Raising Capital From Your Portfolio? Don't Let a Condition Stall It.
Works conditions, retentions, valuer queries — we keep every party moving so your remortgage completes and the next purchase isn't left waiting.
A2Z Bridging Ltd · Authorised & Regulated by the FCA · FRN 808769 · We are a broker, not a lender.
Frequently Asked Questions
Yes — this is one of the most common reasons portfolio landlords remortgage. The new lender repays the existing loan and advances the difference as cash, which you can use as a deposit on the next property. On this London case the client borrowed £527,500 against a £900,000 house, clearing the old lender and releasing capital for a further purchase at 59% LTV. Lenders will want to see the rent covers the new, larger loan — here £42,000 a year did so comfortably.
The lender will not release funds until the condition is met and evidenced — usually a contractor's invoice or guarantee, sometimes a re-inspection by the valuer. The risk isn't the works themselves; it's the file going quiet while three parties wait on each other and the offer ages. On this case, damp works were imposed after valuation. A2Z liaised with the valuer, lender and solicitors throughout, so the moment the works were signed off the lender was pushed straight to completion rather than re-starting the process.
Yes. Interest-only remains the standard structure for buy-to-let borrowing whether you hold the property personally or through an SPV. This client borrowed in their own name as an experienced portfolio landlord, and Quantum Mortgages advanced £527,500 on an interest-only basis, fixed at 5.64% for 5 years. Whether individual or company ownership is right for you depends on your tax position and portfolio plan — but it doesn't restrict access to interest-only products.
Most buy-to-let lenders go to 75% LTV on standard residential stock, but borrowing lower — as here, at 59% — widens lender choice and sharpens pricing. This London remortgage secured a 5-year fixed at 5.64% on £527,500, with £42,000 of annual rent providing strong cover. Rates change regularly, so the figure on this page reflects the deal at completion rather than what's available today — but a modest LTV and a solid rental track record consistently put a landlord in the best tier of pricing.