Landlords are moving very fast to re-mortgage their properties to take advantage of the record low rate mortgages currently on offer. Figures for 2015 are showing 58% of all buy-to-let mortgages have been re-mortgages this financial year. The attractive low rates on offer are driving landlords to review their current financial situation. A great many of the re-mortgages are to fixed rates with 2 years plus being the most popular. This would indicate many landlords are looking for fixed outgoings over the next few years and this may well be a very wise move in the longer term. Landlords are currently reporting a very buoyant market place with rents increasing and demand growing month on month. The buy-to-let market continues upwards in 2015 as young couples find it more difficult to get onto the house ownership ladder due to rising prices. Re-mortgaging to reduce costs and risk There are many reasons to consider re-mortgaging but do be careful as this is not always the best advice. As an example your current deal may well have an early redemption penalty and therefore giving no advantage at all. If you are unsure please do contact us and we will be happy to advise you the best way forward. The most popular reasons for re-mortgaging are listed below. - Secure a better rate of interest - Change to a fixed term deal - Raise capital Need advice? If you require help with your new or re-mortgage please do call one of our fully trained advisers and they will happy to assist.
