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Further advance products

Product type LIBOR Linked Tracker 3 year fixed rate (75% LTV) 5 year fixed rate (75% LTV)
Property type SSC/HMO/MUB
Initial rate 5.03% 3.85% 4.00%
APR 5.20% 5.00% 4.90%
Reversion rate LIBOR +4.75% throughout the term
Early repayment charge 3% for 6 months 2% for 3 years 2% for 5 years
Product fee 0.5% min £300
ICR rate 7.05% 5.85% 4.00%

Subject to availability of funds and withdrawal at any time.
APR calculated using an illustrative loan of £150,000

SSC - Single self contained unit
HMO - House in multiple occupation
MUB - Multi-unit block

Interest coverage ratio

The gross rental income from the property should equal or exceed the ICR as determined using a combination of the tax band applicable to an applicant’s income and the property type. The tax band applicable to the applicant with the highest income will be used. The calculation will be based on the amount requested plus the current balance outstanding, at either the further advance product charging rate plus 2% or 5.5%, whichever is the greater. The applicable ICR rate will be shown against each product.

The tax band and ICR levels are as follows:

Applicant type Basic rate tax payer (20%) Limited company Higher rate tax payers (40%) Additional rate tax payers (45%)
Single self contained properties 125% 125% 140% 140%
HMO's, Multi-unit blocks and all other property types 130% 130% 145% 145%

We must be satisfied that the applicant(s) are able to withstand increases in mortgage interest rates, cover rental voids and be able to afford the mortgage now and after any fixed or tracker period expires.

Further advance criteria

Loan purpose Capital raising will be considered for all purposes concerned with the owning and renting of residential property
Minimum loan amount £5,000
Reversion rate LIBOR + 4.75% throughout the term

Maximum Advances (Aggregate of original loan plus further advance (s)).

75% LTV Maximum £500,000
70% LTV Maximum £1,000,000
65% LTV Maximum £2,000,000

Further advance fees

Product fee This fee can be added to the loan and is excluded from the LTV calculation Product specific
Valuation fee Variable based on the remortgage estimated valuation See scale on Further Advance Guide
Re-inspection fee If a re-inspection of the property becomes necessary at any time after the Further Advance valuation, a fee is charged and will be added to the loan unless it is paid in advance. £100
Please refer to our Tariff of mortgage charges for more details.


Further advances are generally available to borrowers on the above rate(s), where the existing loans have been successfully maintained for a minimum of 6 months.

For more information please call us on 0345 849 4045 to discuss your options.

New applications

Mortgage Trust is able to offer an attractive range of buy-to-let products for customers wishing to purchase a new buy-to-let property, or refinance an existing one.

Launch Mortgage Trust  

Please note that these products are only available via registered intermediaries, so please contact your intermediary to apply.

Paragon Mortgages

Our sister company, Paragon Mortgages offer a range of products for customers wishing to purchase a new buy-to-let property, or refinance from elsewhere.

Launch Paragon Mortgages  

Bank Base Rate


(Current Rate, from 1 September 2016)

Any change to Bank Base Rate will take effect from the 1st of the following month.

3 month LIBOR


(Current rate, from 1 September 2017)

This rate is set quarterly in March, June, September and December. Next reset will be 1 December 2017.

Product information

Please use these links to access information about our Rates, Lending Guidelines and Fees.

Documents will open as .pdf
To save to your computer, right click and select "save as".

Further Advance Guide  

Further Advance Lending Guidelines  

Tariff of mortgage charges 

Mortgage Trust Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ, Registered number: 2048895, Mortgage Trust Limited is an appointed representative of Mortgage Trust Services PLC which is authorised and regulated by the Financial Conduct Authority