Buy To Let Remortgaging On The Rise Says haart

New figures from the award-winning estate agents show that the percentage of people looking to remortgage has risen to its highest level to date in 2012 as landlords look to use the equity in their portfolio to help part fund the cost of additional buy to let purchases.

What’s more, haart is seeing an increasing number of first time landlords looking to remortgage in order to have the capital to buy a new property whilst at the same time rent out their current property. Buy to let accounts for almost one on five mortgage applications currently processed by haart.

haart has a network of mortgage advisors based throughout its branches processing 200 mortgage applications per week. During the first three months of the year haart enjoyed one of its strongest first quarters for a number of years, with house sales up 38.2% in March alone on the previous month.

David Miles, Managing Director of haart Financial Services, says:

“Our latest figures show that experienced landlords are happy to continue to invest in property by expanding their portfolios to meet the high tenant demand in many areas of the country. It is also interesting that some home-buyers are using the equity in their current properties to invest in buy to let for the first time.

“Whilst lending criteria understandably remains risk averse, there are still many great opportunities for landlords to maximize their yields from all sorts of property across the country, and my feeling is that our buy to let lending will continue to grow during 2012.”