Buy to Let remortgages are on the up in 2012

18 May 2012 Categories: News

Buy to Let remortgages are on the up in 2012

It seems that buy to let landlords still have confidence in the private rental market as the number of buy to let remortgages being applied for hits the highest level so far so seen in 2012. Award-winning estate agency, haart, has this week released figures that indicate landlords and property investors are increasingly using the equity within their property portfolios to fund the purchase of additional properties, safe in the knowledge that tenant demand is still high around the country.

The figures from haart also show that first time landlords are getting in on the action as well, as homeowners look to remortgage their primary property before renting it out and using the equity to buy a second property to live in themselves.

Managing Director of haart Financial Services, David Miles, commented on the new figures, saying; “Our latest figures show that experienced landlords are happy to continue to invest in property by expanding their portfolios to meet the high tenant demand in many areas of the country. It is also interesting that some home-buyers are using the equity in their current properties to invest in buy to let for the first time.”

According to Mr Miles, staff within the haart network process around 200 mortgage applications each week; 20% of which are for buy to let purposes.