Remortgage To Buy Second Property Belfast
Last Updated: 18th November 2025
If you are considering buying a second home, an investment property, or supporting a family member onto the property ladder, a remortgage to buy a second property can be an effective way to raise the deposit you need. By releasing equity from your main residence, you can access a tax-free lump sum without selling your home or relying on unsecured borrowing.
At AIMS NI, we provide independent, whole-of-market mortgage advice to help homeowners across Northern Ireland understand their borrowing options and make informed decisions. Whether you want to purchase a buy-to-let investment, a holiday home, or a property for a relative, we guide you from initial planning to completion.
What Does It Mean to Remortgage to Buy a Second Property?
To remortgage to buy a second property means replacing your existing mortgage with a new deal—often with a new lender—so you can borrow more than your current outstanding balance. The additional borrowing is released from the equity in your home and becomes the deposit for the second property.
This is a popular approach for:
- Buy-to-let investors building a portfolio
- Homeowners purchasing a holiday home
- Parents helping children buy their first property
- Individuals buying a second home for work
- Renovation projects and property flipping
It allows you to retain your current home while using its value to fund your next purchase.
Reasons People Buy a Second Property
Homeowners choose to buy a second property for various financial or personal reasons, such as:
- Investment and long-term capital growth
- Rental income opportunities
- A second home for work or family
- Holiday homes or retreats
- Providing a home for children or relatives
- Renovation and resale projects
- Expanding a property portfolio
AIMS NI will help you determine whether releasing equity is the right way to fund your plans.
How Does Remortgaging to Buy a Second Property Work?
Here is a clear breakdown of how the process typically works:
- Review Your Current Mortgage and Home Value
AIMS NI assesses your existing mortgage balance, interest rate and any early repayment charges. - Calculate Available Equity
Your property’s current value minus your outstanding mortgage helps determine how much equity you can release. - Secure a Remortgage Deal
We search the whole mortgage market to find a suitable product for releasing equity. - Use the Equity as a Deposit
The funds released become your deposit for the second property, whether it is a home, buy-to-let or holiday let. - Apply for the Second Property Mortgage
We support you through the mortgage application for the new property, ensuring you understand all requirements. - Complete Both Mortgages
We liaise with lenders and solicitors, managing the process from start to finish.
Deposit Requirements for Buying a Second Property
The deposit you need will depend on the type of property you wish to buy:
Second Home
Typically requires a deposit of 10–15 percent.
Buy-to-Let Property
Often requires a 20–25 percent deposit, depending on the lender and expected rental income.
Holiday Let Property
Can require a deposit of 25 percent or more due to increased lender risk.
Releasing equity through a remortgage can help you meet these deposit requirements without needing to save separately.
What Lenders Look For When You Remortgage to Buy a Second Property
Lenders assess several factors when deciding whether to offer a remortgage to fund a second property, including:
- The amount of equity available
- Income and affordability for two mortgage commitments
- Credit history and financial stability
- Rental income potential (for buy-to-lets)
- Property type, age and location
- Existing debts or obligations
AIMS NI can support applicants with self-employed income, complex financial situations or previous credit issues by searching specialist lenders as well as mainstream mortgage providers.
Benefits of Remortgaging to Buy a Second Property
Using a remortgage to fund the purchase of a second property can offer several advantages:
- Access equity without selling your existing home
- Potential for long-term capital growth
- Opportunity to generate rental income
- Ability to diversify investment holdings
- More flexible borrowing options than unsecured loans
- Option to support family members onto the property ladder
AIMS NI will help you understand the benefits in relation to your long-term financial goals.
Risks and Considerations
Remortgaging to buy a second property is a significant financial decision and requires careful assessment. Important considerations include:
- Higher monthly repayments due to increased borrowing
- Exposure to market fluctuations affecting equity
- Potential rental voids or lower-than-expected rental income
- Higher stamp duty rates for second homes
- Risk of interest rate increases affecting affordability
- Early repayment charges if exiting your current mortgage early
AIMS NI will explain all costs, risks and implications in clear, transparent terms so you can make an informed decision.
Why Choose AIMS NI to Remortgage for a Second Property?
AIMS NI is trusted by homeowners across Northern Ireland because we offer:
- Independent, whole-of-market access to thousands of mortgage products
- FCA-regulated, professional advice
- Over 20 years of industry expertise
- Local advisors available across Northern Ireland
- Clear, jargon-free explanations
- Full support with complex income or credit circumstances
- Guidance through the entire remortgage and second property mortgage application
We prioritise your goals, your circumstances and your long-term financial wellbeing.
Start Your Second Property Journey with AIMS NI
If you are ready to explore the possibility of buying a second home or investment property, AIMS NI can help you remortgage to buy a second property with confidence.
Our advisors will assess your equity, compare whole-of-market mortgage options and guide you through both applications from start to finish.
Contact AIMS NI today for a free, no-obligation consultation and take the next step towards securing your second property.
Remortgage to Buy Second Property
Most lenders require a deposit of 10–25 percent depending on property type. AIMS NI will calculate your available equity and estimate how much you can borrow.
Yes. Many landlords release equity from their main home to fund buy-to-let deposits.
Your repayments may increase if you borrow more or change interest rates. We will show you clear repayment comparisons.
There are specialist lenders who consider applicants with credit issues. AIMS NI can explore these options for you.
In most cases, yes. Second homes typically incur higher stamp duty. We will help you understand how this applies to your situation.
Disclaimer
THE PLAN WILL HAVE NO CASH-IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.
CRITICAL ILLNESS PLANS MAY NOT COVER ALL THE DEFINITIONS OF A CRITICAL ILLNESS. THE DEFINITIONS VARY BETWEEN PRODUCT PROVIDERS AND WILL BE DESCRIBED IN THE KEY FEATURES AND POLICY DOCUMENT IF YOU GO AHEAD WITH A PLAN.
