Landlords remortgaging to expand property portfolio
Buy to let remortgage applications reached their highest level of the year in August, according to the UK’s largest independent estate agent, Haart.
It is believed landlords are remortgaging their current properties to free up funds to purchase additional property, although buy to let mortgage applications have seen no increase as yet.
With recent figures from Yorkshire Building Society suggesting first time buyers are, on average, facing an eight-and-a-half year wait to save for a deposit, the future for the private rental sector remains strong and landlords keen to capitalise.
In a survey conducted by LSL Property Services, only one in every 100 landlords believe rents will decrease in the next 12 months while four in ten predict an increase.
Goldsmith Williams can help landlords considering both remortgaging existing properties and purchasing new. We do not charge extra for buy to let; our remortgage fees are just £299 and include VAT and standard disbursements while our conveyancing fees start from just £399 plus VAT and disbursements.
Our dedicated Landlord Assist programme is also available to all landlords who require legal help and advice with the many areas involved in letting property including drafting tenancy agreements, rents arrears and removing squatters.
Content correct at time of publication