Landlords time to re-mortgage?

Landlords are being urged to review their existing deals after it was revealed that re-mortgage opportunities continue to flourish in the post-Brexit vote world.

Buy-to-let re-mortgage applications were more successful in the three months to the end of November than in the previous 3 months, despite uncertainty caused by the Brexit vote in June.

In the third quarter of the year, 80% of re-mortgage applications resulted in an offer, with 83% moving on to complete. These are very strong figures and go to prove the buy-to-let market is still very much alive. The news should encourage Landlords who up until now have only been wondering whether they should look into re-mortgaging or not.

With borrowing rates an all-time low there really has never been a better time to be a mortgage borrower. However, there is little point in waiting any longer, with rates now realistically only likely to go up, particularly with the uncertainty that has been created by the Brexit vote.

Not only does locking into a low rate mortgage mean you're likely to see a cut in your monthly repayments, but it also provides the opportunity to release equity from your property at a very reasonable rate, should you be thinking about doing so.

This report suggests that not only is now the perfect time to revisit your mortgage deal, but there is also a greater chance than ever that your application will be accepted.

Whatever your reason for re-mortgaging, it's clear that now could be a great time to do so. Rates are at record lows, and if you lock in to a low cost fixed rate re-mortgage deal now, you can secure your repayments for the long term and avoid the possibility of being hit with a rate rise.