Two years ago, a hike in stamp duty created a whirl of new mortgage lending. Now, those two year deals will be reaching maturity and many will be in search of new deals. Not only are rates in the buy to let sector attractive, but rates overall for mortgage lending are appealing to many looking to move home or remortgage. Buy to let landlords will be looking to remortgage soon and interest rates are at a point which is quite attractive. Many lenders have been lowering their rates in anticipation of a wave of lending activity.

According to Moneyfacts, the average five year fixed mortgage loan now sits at 3.43%. This level was seen last time in October of last year. This will likely attract many landlords who are looking to transition into another loan through remortgage. Although two year products could provide a better fit, the five year products might become a more popular choice. The same stress test for two year mortgages does not apply to five year lending products.

Remortgage now sits as one of the most advantageous products within the lending market. Not only is it quite popular among landlords, but home owners are also in line to take advantage of the benefits of remortgage.

Interest rates are low and will likely remain low until a possible hike takes place in May, according to the Bank of England. Those who are on the fence and waiting for Brexit negotiation outcomes are urged by housing specialists to consider remortgage soon. As a potential hike in interest rates approaches, lenders will begin raising rates prior to the date of the actual increase.