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Buy-to-let investors remortgage to extend portfolios, says expert

Thu, 19 Oct 2006

Increasing numbers of buy-to-let investors are taking out remortgages to extend their portfolios, according to remarks from one expert.

Buy-to-let market activity has been high this month, with several mortgage lenders reporting increased activity.

These include Hamptons International Mortgages which states that deals in the buy-to-let sector rose from 15.4 per cent at the end of September to 21.9 per cent in August.

Jonathan Cornell, technical director at Hamptons International Mortgages, believes this is partly due to increased numbers seeking lower remortgage rates on their properties .

"While the base rate rise appears to have put the brakes on home purchases, buy-to-let investors are still showing their faith in the property market . "Many are literally putting their money where their mouth is and remortgaging their own home to extend their property portfolios," he told Assetz.

Meanwhile, a report recently revealed that buy-to-let landlords were being "forced to commit" to properties in increasingly short periods of time to put themselves in front of fellow investors .

The study, from John Charcol, suggested that speed of decision was a key factor together with right location, with 84 per cent of investors suggesting that finding a property in the right area was an important factor in terms of returns.

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