Landlords are the latest group of property owners to be targeted with attractive remortgage deals. For several years, home owners have been the fortunate group being able to take advantage of many incentives which come with remortgage. Those incentives include, but have not been limited to, low valuation fees, low to free legal fees, low administration fees in general, and now cash back options. The market is now offering similar benefits for landlords with buy to let property.

Buy to let property owners have always been concerned with profits. Often, it is the main reason for owning property. As profits go, they are either in a growth mode with their portfolios, or sitting idle. Recent data indicates landlords are putting the idea of building a portfolio on the shelf and trading it for remortgage in order to protect the ability to make profits.

July data showed landlords are remortgaging more this year than last. According to UK Finance, a total of 14,700 buy to let properties were remortgaged which is an increase year on year of more than 7%.

Enquiries also tell a descriptive story. According to data from Paragon, the first quarter posted a record level number of enquiries. This level is an increase of almost 30% year on year.

Remortgage for landlords has in years past included heavy upfront costs. Lenders are now making adjustments in the cost of the process of remortgage. The focus from some lenders has been on making valuation fees more affordable, and in some cases free of charge. Another area is cashback in which there is cashback offered at the time of completion.