Buy to Let Remortgages

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Buy to let remortgage to release the equity built up in your property.

When you are reaching the end of your current mortgage deal on your buy to let property, you'll need to start thinking about finding a suitable remortgage.

A buy to let remortgage is a mortgage with a new lender, taken out when your existing deal ends. Some may choose to release equity in order to cover the costs of buying a new buy to let property.

Whereas with a residential mortgage, the equity in your property depends on its value and the remaining mortgage balance, with a buy to let property, it will be slightly different.

Most buy to let properties will come under an interest only mortgage. In this case, your equity depends on how much deposit you have put down and if the value of the property has gone up.

Additionally, landlords may instead choose to use their additional funds released from their buy to let remortgage, in order to cover the costs of any property renovations. This may add value to the property.

Other landlords may take out a buy to let remortgage on a property in their portfolio, in order to access a better deal with lower interest rates. This can potentially save you money on your monthly repayments.

The Financial Conduct Authority does not regulate some types of buy to let or commercial mortgages.

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When can I remortgage my buy to let property?

Generally speaking, homeowners and landlords alike, tend to remortgage about 6 months before the end of their mortgage deal.

This gives them plenty of time to get the process sorted, ahead of their deal ending. It also helps you to avoid an early repayment charge (ERC).

There are instances wherein a landlord may wish to accept early repayment charges and break their contract, if perhaps there was a property they would like to release equity to add to their portfolio.

Usually, to achieve this, you will have had to have owned your property for at least 6 months before you are able to take out a buy to let remortgage on it.

If you have carried out a renovation project on a buy to let property then you can remortgage against its improved value.

Whatever the reason for your remortgage, as a mortgage broker, we can help you on your buy to let remortgage journey.

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Buy to Let Remortgage FAQs

Why should I remortgage my buy to let?

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There a various reasons why you may choose to remortgage your buy to let property. It may be that you are looking to simply secure a new rate of interest or change the overall term of your mortgage.

Alternatively, you may be looking to remortgage your buy to let to release equity. This could be for various reasons, such as, to carry out improvements on the property.

You may also be looking to use the equity towards a deposit for purchasing another property.

Whatever your reasons for looking to remortgage your buy to let. Our specialist mortgage advisors will be able to advise you on the best deal available for your individual circumstances.

How does a buy to let remortgage work?

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Many landlords will choose to remortgage their original property as a means of funding additional property purchases, funding home improvements, buying out a partner or simply switching lenders for better rates.

Any time you decide to refinance your buy to let property, you will have to undergo the same financial checks that occurred at the beginning of your initial mortgage.

How soon can you remortgage a buy to let?

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In the case of most lenders, you will have to abide by the 6 month mortgage rule. The reason this is in place is to reduce the risk for the lender in question.

Land registry can sometimes take up to 6 months to show a new owner of a property, therefore lenders would often rather wait to ensure they’re lending to the right person and for the correct property value.

Can you take equity out of a buy to let?

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Yes, as a landlord you have access to release equity from your property, albeit potentially limited to 75% loan to value.

You can use this to fund the deposit for a new property, for home improvements or other specified reasons.

How do you build equity in rental property?

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When it comes to taking out a buy to let mortgage, some landlords opt for a repayment mortgage over an interest only mortgage so as to pay capital and build equity in the property.

Some landlords will also choose to overpay their mortgage, providing their current mortgage deal allows this.

There are also factors such as any home improvements, be it anything from a new coat of paint to a home extension, as well as property age, both of which affect the market value of your property and build up your equity.

Can I remortgage my house to buy another property?

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So long as you have enough equity in your buy to let property, you are able to remortgage to release this equity and put it towards buying another property.

This is a popular choice for many buy to let landlords across the UK.

Why should I use a mortgage broker when looking at a buy to let remortgage?

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Being a mortgage broker, we have access to 1000's of buy to let remortgage deals.

Our team work hard in finding the best deal that is appropriate for your circumstances and here to provide any support or guidance you need throughout the process

8 Reasons to choose UK Moneyman

We're open every day of the week, until late.

We work flexible hours, allowing you to schedule an appointment around your busy property management and family life.

Completely free mortgage appointment.

We won't ask you to pay us upfront, we're only paid if we can get you a mortgage.

You will receive your own dedicated case manager.

You'll have a familiar face all throughout your mortgage process.

We're here for you, to make your process easier.

Being a landlord is a busy job and doesn't leave a lot of time to arrange your remortgage. Let us take the weight off your shoulders with a fast & friendly service.

Jargon free insurance advice

With a variety of insurance products on offer, we can recommend you the most suitable ones so you can stay in your home if you become seriously ill and unable to work.

1000s of buy to let deals.

We'll look around for a suitable deal with more favourable rates, so that you can get back to business as usual with your buy to let property.

We are experienced with the buy to let market and have a lot of knowledge of lender criteria.

We build relationships with landlords, with many of them coming back when it's time to remortgage a property from their buy to let portfolio.

Your mortgage advisor will be with you every step of the way.

Should you encounter any obstacles like issues with property surveys and down valuations on your mortgage journey, our team can help you overcome these.

We search 1000s of buy to let remortgage deals

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Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

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