Buy to Let Remortgages

A buy-to-let remortgage allows you to switch your existing mortgage on a rental property to a new deal, either with your current lender or a new one.

As a landlord, finding a better mortgage deal is worth considering, as lowering your mortgage costs can boost your profits. Remortgaging your buy-to-let property could help you save money or free up equity to invest in expanding your property portfolio or renovating your current property.

If you have sufficient equity built up, remortgaging could also allow you to release funds to use as a deposit for your next buy-to-let property or even buy it outright. Additionally, if you decide to rent out a property you currently live in, you’ll typically need to switch from a residential mortgage to a buy-to-let mortgage.

It’s important to plan for times when your property may be unoccupied, as you’ll still need to make your mortgage payments. Buy-to-let remortgage rates are often higher than standard residential rates, so having a contingency fund is essential.

The best time to start looking for a buy-to-let remortgage deal is around six months before your current mortgage deal ends. This gives you time to explore your options and secure a new deal.

You can remortgage at any time, for example, if buy-to-let interest rates drop or if you’ve built up more equity in the property, which could help you get a better rate. However, be mindful of Early Repayment Charges (ERCs) if you leave your current deal before it ends.

At Buy to Let Mortgage Brokers, we compare a wide range of buy-to-let remortgage deals to find the most suitable option for you.. We can even compare deals offered by your existing lender to ensure you get the best option available.

When you’re ready to proceed, you can start your application online or over the phone, and you’ll be able to track its progress 24/7. We’ll guide you through every step, from finding the right deal to completing your application.

After we’ve submitted your application, the lender will conduct a property valuation. Once they’re satisfied with the valuation and the documents provided, they’ll issue a remortgage offer outlining the terms of the loan. Once you accept the offer, the funds are released, and your solicitor will use them to pay off your existing mortgage.

Lenders base the amount you can borrow on the rental income your property generates, typically requiring it to be between 125% and 140% of the mortgage payments. This percentage can be higher if you’re a higher-rate taxpayer.

Your personal circumstances are also considered, including income from employment or self-employment, alongside your rental income. The more equity you have in the property, the better the rates you’re likely to secure.

Whatever your reason for remortgaging a buy-to-let property, Buy to Let Mortgage Brokers is here to help. We provide expert advice to guide you through the remortgage process and ensure you find the best deal for your needs.

The lower the loan-to-value ratio (LTV) of your mortgage, the better the interest rates you can access. If possible, paying off more of your existing mortgage before applying for a remortgage could help secure a better deal.

If you’re a landlord looking to remortgage a buy-to-let property, Buy to Let Mortgage Brokers has you covered. We work with over 50 buy-to-let lenders to find the most competitive deals on the market, tailoring our advice to your specific needs.

Our advice is free but we charge a small fee of £495 upon completion; we can also receive a commission from the lender. Our process is designed to make your remortgage as simple as possible. Once we’ve found the best deal for you, we’ll pre-fill your application with the details you’ve provided, so there’s no need to repeat anything. From there, you’ll be able to track the progress of your application online anytime.

Start your remortgage journey today by using our online mortgage finder to see the deals you qualify for – and let us do the hard work for you!

Get in touch with us by using our easy-to-use mortgage calculator, and we’ll take the time to find the best deal tailored to your specific needs and financial goals.