Remortgages on the increase
Low interest rates may not be around for much longer.
Last month we published an article
that said it may be time to remortgage your properties before the current record-low mortgage rates go up - figures from the British Bankers Association show that other landlords are already doing so.
With a wide range of competitively-priced offers, if you have been holding back on remortgaging, then now may be the time to act.
David Hollingworth of mortgage brokers London & Country said,
“With mortgage rates at rock bottom it’s a good time for landlords to review their options. Those that are concerned by the prospect of interest rate hikes in the future could consider locking into a fix. The buy-to-let mortgage market remains very competitive and some landlords may find they can cut their mortgage costs now, as well as protecting against rising mortgage payments if Base Rate increases.”
If we assume a base rate increase in spring 2016, we may actually see interest rates go up before then – so remortgaging a day before the base rate increase won’t be a good idea.
Martin & Co have teamed up with London & Country to offer you fee-free Independent Mortgage advice, so now may be the time to consider your remortgage options. Speak to one of London & Country’s expert adviser on 0800 923 2045.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
The FCA does not regulate most Buy to let mortgages.