Some 62 per cent of landlords who are planning to remortgage over the next year plan to do so through a broker or intermediary, data from Precise Mortgages shows.
The Q3 2019 Landlords Panel research conducted by BDRC on behalf of the specialist lender surveyed 888 landlords and found that 31 per cent had intentions to remortgage next year due to increased competition and product innovation.
Of those planning to remortgage, 63 per cent are doing so to avoid being moved on to standard variable rates. However, 22 per cent said they were doing so to get a better rate, while 24 per cent cited releasing equity as a motive.
The study found landlords with more than four properties were the most likely to change mortgage deals over the next year – with 35 per cent preparing to remortgage compared with 19 per cent of those with one to three properties.
Alan Cleary (pictured), group managing director of Precise Mortgages, said: “With buy to let rates being reduced it makes sense for professional landlords to optimise their investments by remortgaging but clearly landlords need specialist support from brokers as the study demonstrates.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
