Buy to let landlords’ remortgage demands rises

buy to let mortgageBuy to let remortgage transactions have been exceeding purchases in 2015 but this could be reversed after some time in 2016, shows the latest industry sector index report. Wherein, the remortgage activity is even greater at 78% and 88% of transactions with HMO and MUFB respectively, according to the data from specialist brokers Mortgages for Business.

David Whittaker, managing director of Mortgages for Business says: “For some time now landlords have been making considerable savings through remortgaging. Many have also been releasing equity to make improvements and plan further purchases. But it is expected that there will soon be a reversal of this trend in the first quarter of this year as landlords hurry to expand their portfolios before the stamp duty charge rises.”

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