Buy to Let Remortgage

If you own a property that you rent out to tenants, and you want to take advantage of a new mortgage deal, it’s likely that you will need a specialist buy to let remortgage.

Why remortgage your buy to let property?

There are a range of potential benefits that come with remortgaging, whether you are looking to remortgage a residential property or a buy to let property. Some of these benefits can include:

• The potential to save money on repayments - Finding the right buy to let remortgage deal could save you a significant amount on your repayments each month. If your buy to let mortgage has a fixed term deal or a discounted rate for a set period of time, you could find that once this ends you are moved onto your lender’s standard variable rate (SVR), which rarely offers the best value for money. Remortgaging your buy to let property under these circumstances may help you to maximise the profits you make from rental income and minimise your repayment outgoings

• The potential to raise money to make improvements to your buy to let property - If you have owned your buy to let property for some time, Remortgaging in these circumstances could allow you to raise funds for costly projects such as home improvements or extensions, without requiring you to move to a new property

• Adapting to your changing property portfolio - Over time, the type of buy to let mortgage that might best suit you can change. For example, you may have expanded your buy to let portfolio and want to consolidate all your buy to let mortgage repayments with one lender. Or, you may have paid off enough of your buy to let mortgage to be eligible for a lower loan-to-value (LTV) buy to let mortgage that offers better value

How buy-to-let remortgages work

In many ways a buy-to-let remortgage operates in a very similar way as a standard residential remortgage. Landlords who want to switch to a new buy to let mortgage deal or a new buy to let mortgage provider can choose from a range of buy to let remortgage offers, including fixed rate, variable rate, and tracker remortgage deals.

However, buy-to-let mortgages and remortgages can differ from residential remortgages in several key ways:

• Higher arrangement fees on a buy to let remortgage - the arrangement fees on buy-to-let remortgages can sometimes be significantly higher than those on a residential remortgage.

• Higher buy to let Interest rates – The interest rates charged by mortgage providers on buy-to-let remortgages tend to be higher. Therefore, the monthly savings made by remortgaging a buy to let property may not be as significant as that which might be achievable when remortgaging as residential property.

Things to bear in mind when you are looking for a buy to let remortgage deal include:

• Shop around for the best remortgage deals and use a specialist buy to let remortgage broker

• Find a flexible buy to let remortgage deal that suit your personal requirements

• Seek professional advice from a buy to let remortgage specialist – speak to our buy to let team

To compare top buy to let remortgage rates and find the best remortgage deals for you, use the remortgage calculator to search over 5,000 remortgage deals based on your personal circumstances or speak to one of our buy to let remortgage specialists on