Remortgage for Buy To Let
Compare the most recent offers for buy to let Remortgage Rates – Our remortgage service offers a range of buy to let remortgage bargains from all the main UK banks for existing landlords – For an idea of the best BTL Remortgage rates presently on offer, see the table below, or use our FREE Remortgage calculator above to find the most up-to-date UK buy to let remortgage deals. Or, to speak directly to one of our mortgage consultants, click here »
Why remortgage your buy to let property?
If you own a property that you lease to renters, and you need to find another mortgage deal, it’s probable that you will require a specialist buy to let remortgage.
There are many potential advantages that accompany remortgaging, whether you are looking to remortgage a private property or a buy to let property. Some of these advantages may include:
The possibility to save on payments – Finding the best buy to let remortgage arrangement could save you a substantial sum on your repayments every month. If your buy to let contract has a fixed term arrangement or a discount rate for a set length of time, you could find that once this closes you are moved onto your provider’s standard variable rate (SVR), which seldom offers the best value for your money. Remortgaging your buy to let property under these circumstances may help you to reap the benefits you make from rental income and minimise your repayment outgoings.
The possibility to finance alterations to your buy to let property – If you have been in possession of your buy to let property for quite a while, remortgaging in these circumstances could give you the opportunity you to raise money for expensive undertakings, for example, home enhancements or augmentations, without obliging you to buy another property.
The possibility to adjust to your changing property portfolio – Over time, the kind of buy to let mortgage that suits you can change. For instance, you may have extended your buy to let portfolio and find it convenient to merge your entire buy to let mortgage payments with one mortgage provider. Then again, you may have paid off enough of your buy to let home loan to be qualified for a lower loan to value (LTV) buy to let contract that offers better rates.
How buy-to-let remortgages work
To all intents and purposes a buy-to-let remortgage works in a very much like a standard private residential remortgage. Landlords who need to change to another buy to let home loan arrangement or another buy to let mortgage provider can pick from a selection of buy to let remortgage offers, including fixed rate, variable rate, and tracker remortgage deals. Nonetheless, bear in mind that buy-to-let home loans and remortgages can differ from residential remortgages in a few key ways:
Higher initial expenses on a buy to let remortgage – the initial charges on buy- to-let remortgages can be higher than those on a residential remortgage.
Higher interest rates – the interest rates charged by remortgage suppliers on buy-to-let remortgages have a tendency to be higher than those levied on residential remortgages. Therefore, the month-to-month saving made by remortgaging a buy to let property may not be as significant as that which may be achievable when remortgaging a similar value private property.
Enlist the help of our experts to help you look for the best buy to let remortgages – speak to one of our buy to let remortgage advisers today by calling 0117 332 3389.Request a free, no obligation remortgage quote