Remortgages for landlords continue to be numerous while other areas of mortgage lending decline in product numbers.  Lenders are very aware of the strength in the buy to let market and are offering more remortgages for landlords while pulling back on the number of other mortgage products.  Landlords are happy to get the assistance to add more properties to their portfolios as the demand for rental properties increases.

David Whittaker, managing director at Mortgages for Business, said “The average number of products available has fallen marginally, but that’s more a reflection on an exceptionally strong third quarter than it is of a market slowdown.

“Buy-to-let is one of the few segments of the mortgage market that is really flourishing, and investors are still seeing strong returns.

“With economic conditions congealing, property prices will remain low and demand for rented property should hold steady, meaning the healthy returns available from buy to let show no signs of abating.”

Remortgages have fallen in demand from homeowners as many are content to pay on their lender’s variable rate as their current deals have ended.  Also, without a threat of rising interest rates by the Bank of England’s regulator few homeowners are motivated to get a remortgage.  Demand from homeowners has fallen but remortgages for landlords will continue to be in demand.  Rental properties are in high demand causing landlords to seek to add to their property numbers.  This trend is expected to continue for many years to come.  The offerings from lenders have grown with many offering remortgages for landlords for the first time.