Buy to let property landlords are picking up remortgages at an all-time high rate, according to recently released data. Remortgage, in fact, now accounts for almost 60% of all buy to let activity. Lower interest rates have been noted as the biggest catalyst for landlords making the decision to remortgage and ensure a more stable future for their mortgage costs.

Today’s landlord is concentrating on locking in lower interest rates for the future and ensuring a more consistent schedule of outgoings for tomorrow. Monthly outgoings are especially important as a landlord looks over their portfolio and sees several properties which could make huge financial impacts simply by seeing the interest rate go up by 0.25%. This is enough for them to move forward and pursue a remortgage now rather than paying more later.

Moving forward and obtaining a remortgage now in order to not pay more tomorrow is also what many house owners have chosen to do over the last six month period. A few months prior to the last increase of the base rate, the activity rate to remortgage has been fierce. Lenders have only in the last few weeks increased their interest rates on popular products for house owners.

Lenders have been especially generous with low administration fees, low to free valuations, low to free legal fees, and other costs related to remortgage for both buy to let landlords as well as the everyday house owner. Many lenders even went to the extent of offering cash back on remortgage packages to entice anyone looking to make the wise decision to remortgage.

Many landlords of buy to let property have made the move to remortgage simply to offset the cost of new tax changes. Tax bills coming in January of next year will include the withdrawal of mortgage interest tax relief portion of the new tax laws.