The Client Background
A broker approached Positive Lending on behalf of a client who wanted to raise capital to purchase a buy-to-let property at auction.
As the client intended to buy the property outright, they needed access to funds as quickly as possible to ensure they could meet the auction completion deadline.
As their existing residential mortgage was tied into a fixed-rate deal until April 2028, remortgaging was not a viable option. Instead, they wanted to release equity from their home while keeping their first charge mortgage in place.
The “Positive” Solution
After assessing the client’s objectives, Positive Lending recommended a second charge mortgage as the most suitable solution.
The case was placed with Selina, who could provide the required funding while allowing the client to retain their existing first charge mortgage.
By managing the application proactively and working closely with all parties involved, we progressed the case from enquiry through to completion in just 14 working days, ensuring the funds were available within the required timeframe.
The Loan
Product: Second Charge Mortgage
Lender: Selina
Loan Amount: £92,000
Loan Purpose: Purchase of a buy to let property at auction
Monthly Payment: £575.05
Rate: 6.19% fixed for 5 years
LTV: 62.6%
Process: Positive Lending Advised
The “Positive” Outcome
The client secured a £92,000 second charge mortgage with Selina at 62.6% LTV, fixed for 5 years at 6.19%.
The funds enabled them to purchase their auction property outright, avoiding delays and allowing them to complete within the required timescales.
Why Choose Positive?
When speed is critical, having access to specialist lenders and an experienced packaging team can make all the difference. Positive Lending helps brokers find practical funding solutions, progress cases efficiently, and deliver successful outcomes even when deadlines are tight.