UK Remortgages - Buy to Let Remortgages

If you already have a buy to let mortgage and you'd like to remortgage that property to raise extra funds or to save on repayments then this is a sensible course of action, of course it's not that easy you will need a deposit of at least 25% of the current value of the property and the rent generated by the property must be at least 135% of the current mortgage repayments, another stipulation required by most lenders is the minimum income for the household is + £25,000 PA.

Having more than one buy to let mortgage can be considered a disadvantage to some lenders when applying for a buy to let remortgage. this can also be the case when the value of the property is to low e;g £65,000 or less. It should also be considered that most buy to let mortgage providers will not be able to provide fixed rate Remortgages most are Standard Variable Rate Remortgages. Redemption penalties and lock in* clauses may well hamper or discourage you from getting such a remortgage.

*lock in - this can tie you to into a mortgage for a fixed period of time unless you pay a large financial penalty.

Solicitor's fees and administration charges will also be an extra financial burden when pursuing a buy to let mortgage.

The benefit of remortgaging a buy to let property is that you already have the deeds in your name and no third parties are involved to scupper the

• Remortgages - Raising finances or saving on your repayments : UK Bad Credit Brokers & Lenders

• What is remortgaging? - Raising funds and releasing equity

• How to remortgage - Transferring your mortgage and raising additional capital

• Buy to Let Remortgages - Using the rental income from your property

• Bad Credit Remortgages - Adverse and Poor Credit Ratings

• Remortgages - Self Certified Remortgages -Non Status & the Self Employed

• Remortgage Brokers & Lenders - There to help you get the best remortgage deal