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Remortgage your buy-to-let

Raise collateral and free-up cash by renegotiating the existing mortgage terms of your buy-to-let property, with a buy-to-let remortgage.

If you’re making future plans or looking to expand your portfolio, remortgaging your existing buy-to-let properly may be worth considering. Remortgaging means agreeing new terms with your lender, or another provider. It’s often used to renegotiate payment terms or borrow more.
  • Renegotiating your current plan can be used to free up funds for other expenses.

  • You may be able to secure better payment terms if you’ve already paid off a substantial portion of your mortgage.

  • Taking cash as a lump sum may mean you have to increase the duration of your payment, meaning you could end up paying for much longer than originally planned.

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How does a buy-to-let remortgage work?

Buy-to-let remortgages work like other kinds of mortgage agreement, and plans can be offered on an interest-only basis. This means the initial amount you borrow 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.

Buy-to-let remortgaging rates

When remortgaging your property, potential lenders will consider both rental payments and your own private income to determine what rate to charge.

To provide some of the best buy-to-let remortgages, we work closely with a range of lenders, taking your situation into consideration when helping you choose a mortgage.

Looking for other remortgages?

How much can I borrow?

You can borrow an amount between £5,000 and £1,000,000, based on your financial history and current circumstances.

Am I eligible for a buy-to-let remortgage?

Whether or not you’re eligible for a loan will depend on the requirements of the lender. Your eligibility will depend on several factors, such as:

Another consideration is whether you can cover the mortgage costs of multiple properties, should that apply to you.

Commonly asked questions about buy-to-let remortgaging

Do I need a solicitor?

If you’re looking to borrow more money with your current lender, or agree a better payment plan, you usually don’t need a solicitor. However, if you’re remortgaging with another lender, you will usually need their services.

Do I need a valuation?

A valuation is required, as the worth of the property is used to assess how much you can borrow.

Can I pay off a buy-to-let remortgage early?

Outstanding balances can be paid off at any point during your agreement. However, it’s worth bearing in mind that some lenders will charge an Early Repayment Fee if you decide to pay off the balance in full before the deadline.

Remortgaging details

Applying for a buy-to-let remortgage

At Norton Finance, our goal is to assist people across all types of financial situations. Before starting our easy, online application process, it’s important to know how much you can afford to borrow and what repayment plan is best for you.

Using our online buy-to-let remortgage calculator, you can estimate what your repayments might look like to help you decide whether remortgaging is the right choice. If you’re considering borrowing to purchase another buy-to-let property, it’s worth considering that you’ll need a 15 - 25% deposit.

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