Buy To Let Remortgages

There's a possibility that some of you reading this may be aware of what a buy to let remortgage is so please feel free to skip the parts you already know and get a quick response.

Buy To Let Remortgages - our fast simple quote system.

A remortgage is when you switch from one lender to another lender. The reasons for doing this vary but from  experience people are usually looking to either raise capital and/or get a better interest rate.

It really was through the process of remortgaging buy to let property which gave landlords between 2000 and 2007  the additional capital to expand their portfolio.

For example, in 2006 I bought a property for £135,000 obtaining a £114,750 loan. I then spent £10,000 refurbishing  the property and 3 months later remortgaged it. Within 3 months it was valued of £165,000 so I took out a loan with  a different lender for £140,000 releasing £25,500. This £25,500 was then the deposit for my next property.

Unfortunately, this process will not work at the moment for a few reasons, one - we have not got house prices rising,  two - there are only few lenders in the buy to let remortgaging market but none offering 85% LTV deals and three  - lenders will not remortgage these days unless you have owned the property for at least 6 months.

However, if your buy to let mortgage deal is coming to an end and you are looking for a new one, then read on! As  well as having my own property portfolio I specialise in buy to let mortgages and although there is instability in the  financial market people still need mortgages and there may be a great deal out there for you.

The thing is, as I'm sure you will agree, there is no crystal ball on the movement of interest rates. With Base Rate  at 0.5% many investors are speculating that the only way for rates to go is up. But when that will be nobody knows. Others look at Japan - they have had such low interest rates for years. However, if you like the  stability of a fixed rate product there are buy to let remortgage deals out there.

So whether you only have one buy to let property or you are a professional landlord, help is there for you to  succeed in the current climate. If you took your mortgage 2 or 3 years ago you will find that interest rates really  haven't increased all that much. Arrangement fees on buy to let remortgages have always been high for low interest  rates and so you can still expect to pay between 0.5% and as much as 2.75%, 2% being the average. However, as  you know this arrangement fee is tax deductable, so do your sums and the remortgage maybe worthwhile,  particularly as like the residential remortgages you can still find buy to let remortgage deals with Free Legals and  Free Valuation.