Alternative Buy-To-Let Funding Solution for an apartment in an “Investor Led” Property Development Area

I recently worked on a case where the client was looking to take equity out on a property he bought in cash over 3 years ago by way of a new Buy-To-Let mortgage but due to the apartment being “Investor Only” and there being similar designed apartments in the same block, the principal lender came back with a zero valuation on the property. There was also the issue of a unilateral undertaking taken out by the Developer in favour of the Council which was on the title register. The client was able to prove that the notice was fully settled by the Developer, and more importantly, satisfy a lender that they can take security on a property where the mortgage would otherwise have been refused if there was already a first charge against it.