Specialist lending and property purchase: BTL, second charge, bridging, self-build, auction and property tax

ASEW Learning Outcome 2 covers clients who fall outside the standard owner-occupier purchase: landlords, people raising money behind an existing mortgage, buyers who need a short-term bridge, second-home owners, self-builders and auction buyers. Case questions usually test three things. Is the loan regulated? Which solution fits? What will it cost in tax? This note gives you a decision path for each, then a worked buy-to-let case, the kind of synoptic file CeMAP® 3 is built on.

1. Who is in the specialist market (AC2.1, AC2.2)

Client	Typical aim	First question to ask
Portfolio or professional landlord	Expand or refinance a rental business	Business-purpose BTL, so unregulated?
First-time landlord	Buy one property to let	Business purpose? Owns a home already, so the SDLT surcharge applies?
"Accidental" landlord	Let an inherited home, or a home they cannot sell	Possibly consumer BTL, which is regulated under the MCD Order 2015
Let-to-buy	Let the current home and buy a new main residence	Two applications: consent to let or a BTL on the old home, plus a residential mortgage on the new one
Second charge borrower	Raise money without disturbing the first mortgage	Is a further advance or a remortgage better?
Bridging borrower	Buy before selling; buy at auction; refurbish	Is the exit credible?
Second-home buyer	Holiday or work base	Higher-rate SDLT, CGT on a future sale, lender criteria
Self-builder	Build their own home	Staged releases, planning, warranty or architect's certificate
Auction buyer	Buy quickly, often at a discount	Funds must be ready before bidding