Buy to Let Remortgage Halves Interest Repayments

Image of buy to let remortgages.

We are helping a significant number of customers refinance their existing borrowing to capitalize on lower interest rates. Remortgaging can save homeowners and property investors large sums of money, yet it is not always the first place where homeowners will look when reviewing their finances. Remortgaging might not be suitable for everyone, but it’s essential to look at your options and know the amount of interest you’re paying.

Speak to a mortgage advisor like ourselves about any changes in your circumstances; it could end up saving you money. One of the concerns homeowners have is remortgaging fees, but these pale in comparison to the amount you can save overall. For example, largemortgageloans.com has helped clients save as much as £40,000 through remortgaging.

The process of remortgaging is surprisingly straightforward. When international profiles are added to the mix, there are many threads to the negotiating process, which can become convoluted. Therefore, access to a niche lending circle is paramount to agreeing on preferential terms.

Our client sought to remortgage a buy to let (BTL) property in our latest case study. Borrowing costs attached to buy-to-let mortgage rates are still historically low, which aid returns for landlords.

Case profile

Our client was interested in remortgaging their £3m London BTL property as a straight swap. The clients had an outstanding £1m to repay in total, enabling them to achieve a low loan to value, covered mainly by the rental income. The couple was paying a relatively high mortgage repayment to their existing lender monthly and consulted us to see whether we could achieve preferential interest rates for them.

Solution

Our relationship with lenders meant negotiating terms and offering our clients a significantly lower interest rate for a two-year fixed rate. The clients were delighted to more than half their mortgage interest payments. As the lender’s costs were low, the monthly saving meant that the costs were recouped within three months. The new deal ended up saving the client over £40,000 across two years. The client was astounded at the new arrangement, and having the mortgage process handled quickly and smoothly by our advisors was the jewel in the crown.

If you’re considering remortgaging your BTL property, it’s vital you seek expert advice. Our team are always on hand to offer a free appraisal of your situation, with no obligation to proceed. Contact us today to find out more.

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

largemortgageloans.com is a trading name of Largemortgageloans.com Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: www.fca.org.uk.  The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending.  

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