Buy To Let Secured Loan
Borrow with us and you could receive your loan in a few weeks
Borrow up to £250,000
Flexible terms from 3-25 years
We consider all credit histories
Employed, self employed, pension and benefit income
We're a direct lender, so there are no hidden broker fees
Representative Example: A secured loan of £37,000 payable over 9 years on a fixed rate of 10.61% for the first 5 years, followed by a variable rate, currently 12.19%, would require 60 monthly payments of £569.20 followed by 48 monthly payments of £586.29. The total amount repayable would be £62,293.92, this includes interest, an arrangement fee of £1,998 and a processing fee of £499. The overall cost for comparison is 13.4% APRC representative.
How it works
Organising your finances can sometimes feel stressful, but we want to make it as easy as possible for you.
In just 3 simple steps you could have the money in your bank account. All you need to do is:
1: Enquire
Complete our quick and easy online enquiry form. Alternatively, you can speak to an advisor instantly by calling us or starting a live chat.
2: Your details
One of our qualified advisors will call you to discuss your enquiry and work out a monthly payment that meets your needs and circumstances.
3: We'll do the rest
We'll help you complete the paperwork and any other supporting documentation required.
What do our customers say?
You can relax knowing you’re working with a highly rated team. But don’t just take our word for it, visit our website and read our reviews – they speak for themselves.
What is buy to let secured loan?
A buy to let mortgage and a buy to let secured loan are similar, in that they are both a type of mortgage. However, they do have their differences.
At Central Trust we offer consumer buy to let secured loans for accidental or non-professional landlords. However, if you are a professional landlord looking for a standard buy to let mortgage, our sister company Mercantile Trust can help.
An accidental landlord refers to an individual who didn’t purchase the property with the intention of letting it out, but circumstances led them to become a landlord.
However the circumstances in which someone becomes an accidental landlord varies.
For example, someone who currently owns their residential home, needs to relocate due to their work commitments, and may not wish to sell their property. Instead they decide to rent it out, as oppose to the leaving the property empty for a long period of time.
This individual would be classed as an ‘accidental landlord’ and would therefore need a specialist
consumer buy to let mortgage.
Other lending scenarios include:
- A first time landlord that has inherited a property
- An individual that inherits a property they used to reside in
- Someone who wishes to let their current main residence to assist with the purchase of their future residence (where they have no other investment properties in the background)
- An individual that decides to move in with a partner
- Someone that goes travelling for a long period of time and wants to temporality rent out their property
Why choose Central Trust?
35 years' experience
We are one of the UK's longest established specialist lenders trading since 1988 giving us over 35 years' experience providing secured loans, homeowner loans and second mortgages.
Simple application process
You can call our team directly on 0800 980 6273 (Mon-Fri:8:00am-7:00pm /Sat:9:00 am-1:00pm) or you can enquire online at any time using our quick and easy online form.
All credit considered
We understand that life happens and there's more to your story than your credit score or recent pay slip. So if you have a less than perfect credit score we could still help.
How does it differ from a standard buy to let mortgage?
Standard buy to let mortgages are used by landlords looking to purchase a rental property or to build their portfolio for investment purposes.
However, not everyone that becomes a landlord sets out with the intention to do so, which is why buy to let secured loans are available.
Buy to let secured loans have more regulatory protections than a standard buy to let mortgage. They offer additional comfort to those accidental landlords, or non-professional landlords who have found themselves running a rental property.
It’s important to note, that there are less lenders offering buy to let secured loans, in
comparison to standard buy to let mortgages.
Case studies
Home improvement loan
For an applicant with poor credit history.
Secured loan
For a self-employed client with limited trading history.
Debt consolidation loan
For an applicant with multiple lines of credit.
I have poor credit, could I still be accepted?
Having a poor credit profile doesn’t mean that you will struggle to obtain a buy to let secured loan, however you may find there are less lenders that can help you.
Although some lenders may not be able to assist, we have and can help individuals with poor credit profiles. We consider all credit histories including those that have:
- Accounts in defaults
- CCJ’s (county court judgement)
- Debt management plans
- Cautions or restrictions against their property
- Missed payments (maximum of 2 within 12 months)
- Historic IVA (individual voluntary arrangement) which is now settled
Ready to enquire?
Talk to our qualified mortgage experts now
We are here to help
- Friendly UK based advisors
- Enquiring won't affect your credit rating
- Fast turnaround times 7-10 days is possible
- No phone menus - immediate contact from our advisors
- We are a direct lender, so we'll work with you from start to finish
Tara Evans
Head of Direct Sales
20 years at Central Trust
01923 280199
FAQ's
Yes, you can. Buy to let secured loans are designed specifically to use rental properties as security. Your acceptance for the loan will be based on a number of different factors such as the equity in the property and the affordability of the loan i.e. your ability to make the monthly repayments.
To be eligible for a buy to let secured loan, you must be aged 18-85 and own a rental property which can be used as security, in case you fail to make your repayments.
The best way is to take out a “buy to let secured loan”. These loans use a rental property as security against the amount you borrow. This means that you may be able to borrow a larger amount of money, get a longer repayment period, or overcome an issue with your credit. It’s important to remember that any property that you use as security could be repossessed if you fail to repay the loan.
Yes. If you have invested in a property and rent it to a third party, you may be able to qualify for a buy to let secured loan. This type of loan uses your investment property as security against the loan.