How does a buy-to-let remortgage work?
Buy-to-let remortgages work like other kinds of mortgage agreement. Buy-to-let plans can also be offered on an interest-only basis, meaning the amount you borrow initially will only be repaid at the end of the mortgage deal, whilst monthly repayments are used to cover the interest.
Like a buy-to-let mortgage, remortgage agreements typically use the rental income to cover the monthly costs.
By changing the terms of your current mortgage, you could be offered lower rates and repayment options, or raise more money to put towards investment in additional property.
However, by releasing another lump sum, you could end up paying back for longer than your original agreement.