Buy to Let Remortgage Activity in UK Increases

Reports by the Council of Mortgage Lenders and Paragon Mortgages suggest that activity in the buy to let remortgages sector has increased significantly between Q1 and Q2 2011.

The latest report by the Council of Mortgage Lenders suggests that remortgage activity increased in the past months. In the opinion of experts from Paragon Mortgages, a 21% increase in buy to let lending can be explained by capital raising.

The research by Paragon Mortgages showed that only 35% of buy to let remortgages were for the purpose of getting a better interest rate; further 47% were for the purpose of capital raising. The remaining were for the purpose of switching the lender or some other reason.

Commenting on the findings, Mr. Heron said that "CML figures show there was a significant increase in buy-to-let remortgage cases between the first and second quarters of this year and it appears a large proportion of that is from landlords releasing equity to generate seed capital for portfolio expansion."

Most popular searches: remortgage, remortgages, remortgage deals, best remortgage, remortgaging