Buy to let re-mortgaging is on the increase.
The buy-to-let re-mortgaging sector has increased and is expected to grow further in the coming year, according to a recent survey. It has been reported that just under half of the participants in the survey thought that the buy-to let market is stable, with over a third describing the market as strong.
For the first three months of 2012, mortgage brokers Deal Direct saw the buy-to-let sector increase to around 21% of total UK mortgage business. Survey figures suggest this compares to next-time home-buyers at 23% and those re-mortgaging at 41 %.
It is estimated that just under 40% of landlords are interested in buy-to-let mortgage deals to increase their property portfolio. Nearly a third of those included in the survey were re-mortgaging, and just under a quarter were first time investors joining the buy-to-let market.
An increase in the number of landlords entering the mortgage market for the first time shows confidence in UK property investment. This is positive news after Euro-zone problems at the end of last year unsettled the market. Though buy-to-let investment is not back to peak levels, there is an improving picture.
If you are considering an investment property and are looking at re-mortgaging to fund the purchase, contact Deal Direct for the most competitive mortgage rates currently on offer. We have access to the entire UK mortgages market and can source a product ideally suited to your needs.
