If you already own a home in Manchester and have built up equity, you may be wondering whether you can remortgage to help fund another property. This is a route many homeowners explore, either to purchase a buy to let, support a family member, or move into a new home while keeping their current one.
Remortgaging to release equity can be a flexible way to unlock funds, but it’s important to understand how the process works and what your options are. Our mortgage advisors in Manchester are here to guide you through it.
How can I remortgage to buy another property?
If your home has increased in value since you bought it, or you’ve paid off a decent portion of your mortgage, you may have equity available to release. By remortgaging to a new deal with a higher borrowing amount, that equity can be turned into a cash lump sum, which you could then use towards another property purchase.
Lenders will assess your current mortgage balance, the value of your home, your income, and your ability to manage the new repayments. You’ll also need to consider the loan-to-value ratio after borrowing more, as this can affect the rates you’re offered.
We use a range of lender calculators to show what you may be able to borrow and how different products would work based on your current situation. Whether you’re employed, self-employed, or over 50, we’ll explain which options are most suitable and walk you through the process from the start.
What types of property can I purchase with my released equity?
The funds you release through a remortgage can be used to buy various types of property, depending on your plans. Some customers use the money to buy a second residential home, while others invest in a buy to let. Some support a child or grandchild with their first home deposit.
Whatever your reason, it’s important to let your mortgage advisor know what you’re planning, as different lenders have different rules about onward purchases. Some may limit how much you can release, or require more detail about how the funds will be used. We’ll talk you through the options and make sure the lender you apply with is a good fit for your goals.
Remortgage to Purchase Buy to Let Property
If you’re thinking of becoming a landlord, remortgaging to release equity from your current home is one way to raise a deposit for a buy to let. This is a common route for first-time landlords in Manchester who want to take their first steps into property investment.
You’ll need to meet affordability criteria for the new mortgage and show that the expected rental income will cover the buy to let repayments. Lenders often require a larger deposit for these types of purchases, and interest rates may differ compared to standard residential products.
Our team regularly helps homeowners remortgage to purchase their first or next buy to let. We’ll explore whether this strategy makes sense for you and recommend products from lenders who are comfortable with this approach.
Remortgage to Purchase a Residential Property
Some homeowners decide to move to a new property but keep their existing home, either to let it out or retain it as a second home. In these cases, a remortgage can free up funds to put towards the new purchase.
This setup can work well if you’re not ready to sell, or if you’re planning to move for a fixed period but return later. It’s also something we see with people moving in with a partner, or those who have inherited property and want to keep both.
Lenders will want to see that both mortgages are affordable and that you’re not over-stretching your finances. Our mortgage advisors in Manchester will assess both sides of the plan and help you build a clear picture of how your finances would look after completion.
Speak to One of Our Remortgage Advisors in Manchester
If you’re exploring the idea of remortgaging to buy another property, it’s important to get the right advice early on. Whether your plans involve a buy to let, second home or supporting family, our mortgage advisors in Manchester can talk you through your options and what might be possible based on your circumstances.
We work with homeowners of all ages, including customers over 50 who are considering how their property wealth could support future plans. We’ll search through a wide range of lenders and remortgage products to find something that suits your needs, and we’ll handle the application process for you from start to finish.
Date Last Edited: October 27, 2025
