The buy to let market has seen a surge in the last year as more and more families find themselves unable to purchase property and look to rental property. Others are choosing rental property over ownership to stand back from taking on any debt in a fragile economic climate. Business is good for the buy to let market and there are new landlords entering the market. Also, landlords are busy trying to secure lending to expand their property portfolios since demand is far outweighing supply at this time.

One way that landlords can expand their portfolio is by securing a remortgage on a current buy to let property. It is often overlooked as a source for income to secure more property but in the right situation it can have several benefits for a landlord to remortgage. The good news for landlords is that the lending market has noticed the demand for rental properties and is bringing new buy to let mortgage products to consumers, including good deals on buy to let remortgages.

The trend for growing demand in the private rental sector is expected to continue for awhile as there are those being forced into rental that will have few options available as lending remains tightened and there are those choosing to forego ownership in an effort to hold down personal debt. With the changing job market many have chosen to rent to prevent being tied to a mortgage should their job opportunities change. Due to these factors the buy to let market is clearly becoming a notable part of the mortgage lending sector as investors seek to fill demand.

John Heron, Paragon Mortgages’ managing director, said: "Buy-to-let is clearly an important source of business for the broker community and, given the growth in tenant demand and expected expansion of the private rented sector, it can play an even greater role going forward.

"It is forecast that nearly one in five households will live in privately rented accommodation by 2015, up from the current one in seven, and the sector will obviously require buy-to-let finance to facilitate that growth.

"The broker community is well placed to help landlords meet their finance needs. Buy-to-let is a commercial product and landlords appreciate the advice and support offered by the intermediary sector.

"The good news is that competition and innovation is slowly but surely returning to the buy-to-let market, and that is likely to continue throughout 2011."