Remortgaging has been offering homeowners savings as well as the possibility to have cash in hand. The cash can be used for any need the homeowner has, but many have used it to invest back into the property for improvements and upgrades. Some of those improvements likely increased the value of the property. Not only has the equity cash release remortgage been popular with homeowners, but it is now growing in popularity with landlords.

The cash could, as homeowners have done, be used to improve properties and it could also be used to purchase more property and build the landlord’s portfolio.

According to a recent report, almost a third of all landlords polled plan to remortgage within the next year and release built up equity into cash.

The equity available for release has grown as the housing market has pushed property values upward. Higher house prices from strong demand increased the value of property. The ability to turn the built up equity into cash is possible with a remortgage as well as the ability to save money due to lower interest rates attached to remortgage products.

Landlords certainly should be looking to find savings with a remortgage, but it is less often that they are keen to release equity into cash. However, the current housing market and demand for not only property to buy but also to rent will be adding confidence to property investors.

Offers from some remortgage lenders are at historic lows. Hundreds of pounds per month could be saved per month with the lower interest rates available now versus those that were available two years or more ago when a mortgage would have been secured. 

Landlords are not the only ones saving on monthly repayments as homeowners are finding lower interest rates as well. Experts encourage borrowers to shop around online. It can provide quick access to quotes with information as to what possible deals would be available. Knowing the savings possible could be all the motivation needed to take action and be a part of those finding savings relief with a remortgage and possibly even getting cash in hand.