I was interested to read the new data from a mortgage broker recently which showed that buy-to-let landlords are rushing to remortgage, as record low rates look increasingly attractive. In fact, analysis from a mortgage advisory firm has claimed that remortgaging accounted for approximately two thirds of standard buy-to-let mortgage transactions in the first quarter of 2015.
In the first three months of 2015, 66 per cent of mortgages for standard - or vanilla - buy-to-let properties were remortgaging loans, with the rest being new mortgages for purchase purposes.
David Whittaker, managing director of Mortgages for Business, says: 'Record low mortgage rates are driving wave upon wave of landlords to reassess their finances and these landlords are reporting a buoyant rental market, driven in large part by a resurgent jobs market – and now even more encouraging signs on wages.'
It comes as a study last week showed that buy-to-let landlords have reaped the benefits of the booming property market making returns of almost 1,400 per cent over the past 18 years, beating all other types of investment.
Right now, houses in multiple occupation are particularly popular with landlords searching for a better rental yield – but today's record low mortgage rates are proving of enormous benefit to all types of landlord.
Buy-to-let mortgage rates are at record lows, so if you are considering investing in property - or improving your returns on a buy-to-let you already own – now could be the right time to take out a new mortgage.
The mortgage market is extremely competitive and we’re currently seeing some brilliant buy-to-let mortgage rates for landlords.
If you would like any further help or information on any mortgage, please contact our mortgage specialists Vicky, Lyn and Caroline on 01229 811811.