There’s been plenty of good news hitting the buy-to-let (BTL) market recently. Not only has the value of landlords’ investment property hit a record high, but figures from Moneyfacts.co.uk revealed that the average rate for a five-year BTL mortgage has fallen to the lowest on record, so it may come as little surprise to learn that landlords are hastily reviewing their options, with remortgaging high on the agenda.
Remortgage boost
New figures from Paragon show there’s been a sharp surge in remortgaging activity of late, so much so that it’s reached an all-time high! The data reveals that the proportion of landlords looking to remortgage has hit its highest level on record, accounting for 57% of all BTL business dealt with by the provider between July and September this year, up from 49% in the previous three-month period.