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Best Buy-to-Let Remortgage Rates and Deals

If your current buy-to-let mortgage deal is coming to an end, it may be time to review your remortgage options. A buy-to-let remortgage can help you avoid moving onto your lender’s standard variable rate, secure a more suitable deal, or release equity from your property.

On this page, you can compare buy-to-let remortgage rates and deals, learn how the remortgage process works, and find answers to common questions about remortgaging a buy-to-let property. You can also use our free buy-to-let mortgage comparison tool to explore the latest BTL remortgage options available.

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Buy-to-Let Remortgage Comparison Tool UK

If you’re remortgaging a buy-to-let mortgage and own up to 3 rental properties, use our buy-to-let remortgage comparison tool below to explore the latest deals currently available.

If you own 4 or more mortgaged rental properties, visit our portfolio landlord mortgage page for more tailored options.

The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.

Mortgage Details

Property Price £

Mortgage Amount £

Mortgage Type

Loan Type

Mortgage Term (1-40 years)

Product Rate

Initial Rate Period

Advanced Filters

Cashback

Exclusive

No booking or arrangement fee

No early repayment charge

Overpayments allowed

Offset

New Builds

Limited company buy to let

Professional landlord

These are indicative figures only and may not represent all the costs associated with each product. For more information speak to one of our mortgage brokers on 023 8235 2300.

What Is a Buy-to-Let Remortgage?

A buy-to-let remortgage is when you switch the mortgage on a rental property you already own. This can mean moving to a new lender or taking a new product with your existing lender. It is very similar to when you first take out a buy-to-let mortgage, except you’re not purchasing the property again.

As a landlord, you’ll usually remortgage when your current deal is coming to an end and you want to avoid moving onto your lender’s standard variable rate. In other cases, you may be looking for a better deal, a different mortgage structure, or a way to release equity from the property.

If you’re releasing equity, your new mortgage will usually cover the balance remaining on the current loan plus any additional borrowing you’re approved for. That extra capital is often used for renovations, consolidating borrowing, or supporting the deposit on another property.

Why Remortgage a Buy-to-Let?

Most landlords remortgage to:

Avoid moving onto their lender’s standard variable rate
Reduce the overall cost of borrowing
Change the term, rate type or repayment structure
Release equity for another purchase, improvements or other planned costs

The right option depends on the deal available, the fees involved, your loan-to-value, rental income, and what you want to achieve by remortgaging your buy-to-let property.

When Should You Remortgage a Buy-to-Let Property?

Usually, it makes sense to review your buy-to-let remortgage options before your current deal ends. Once a fixed rate period finishes, many landlords are moved onto their lender’s standard variable rate, which is often more expensive.

It can be sensible to start the remortgage process up to 6 months before your current deal expires. That gives you time to compare rates and line up the new mortgage so it is ready when your existing product ends. It also means your broker can keep an eye on whether a better deal becomes available before completion.

If you’re still inside an early repayment charge period, it can still be worth reviewing your options. In some cases, the savings from a better deal can outweigh the cost of leaving early, but that needs to be checked carefully.

What to Consider Before Choosing a Buy-to-Let Remortgage

Before focusing only on the headline rate, it’s worth comparing the overall deal. Key considerations when choosing a buy-to-let remortgage include your loan-to-value, rental income, lender fees, property type and whether a product transfer or full remortgage offers better value.

1. Compare current deals

It’s important to compare buy-to-let remortgage deals from different lenders rather than focusing on one option too early. The right deal will depend on the rate, fees, criteria and how well it fits your plans.

2. Equity and loan-to-value

How much equity you have in the property can make a big difference to the remortgage deals available. Lower loan-to-value bands often give access to better pricing, while releasing more equity may reduce the number of suitable options.

3. Rental income and stress testing

Most lenders assess buy-to-let remortgages using rental coverage calculations. The stress rate and interest cover ratio used by lenders can vary, so the most suitable deal is not always the one with the lowest headline rate.

4. Fees and true cost

A lower rate is not always the cheapest overall option. Arrangement fees, valuation fees, legal costs, broker fees and any early repayment charges should all be taken into account when comparing buy-to-let remortgage deals.

5. Product transfer vs remortgage

In some cases, taking a new deal with your existing lender can be quicker and simpler than switching. However, a product transfer will not always give you the best overall value, so it is worth comparing both routes.

6. Property type and landlord profile

The property itself, your landlord experience and the size of your portfolio can all affect lender choice. Factors such as non-standard construction, flats above commercial premises, or portfolio landlord status may limit which remortgage deals are available.

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Finding the Best Remortgage Buy-to-Let Rates

The best buy-to-let remortgage deal is not always the one with the lowest headline rate. Fees, incentives, early repayment charges and your wider plans for the property can all affect which option offers the best overall value.

The products available to you will also depend on factors such as your credit history, rental income, property type and loan-to-value.

Many buy-to-let remortgage deals are only available through intermediaries and independent mortgage brokers like John Charcol. You can also use our tool to compare buy-to-let remortgages and find out which deals could work for you.

Our expert mortgage advisers can help you by researching the remortgage market and recommending the best buy-to-let product for your situation. We even manage your application from start to finish, liaising with lenders and keeping you updated.

Get in touch with one of our mortgage experts to find out more about getting the best buy-to-let remortgage deal for you.

Limited Company Buy-to-Let Remortgages

A limited company buy-to-let mortgage is arranged in the company’s name rather than your own. For some landlords, this can be a useful way to keep personal and business borrowing separate, and it may also offer tax advantages depending on the circumstances.

The application process for a limited company buy-to-let remortgage can differ from a standard personal application as lenders often ask for additional documents.

If you’re thinking about moving a personally owned buy-to-let into a limited company structure, it’s important to take advice first. In many cases, that is treated as a sale and purchase rather than a simple remortgage, so there can be tax and legal implications.

Learn more about LTD company BTL mortgages and compare rates.

What You’ll Typically Need to Provide for a Buy-to-Let Remortgage

To keep a buy-to-let remortgage application moving, lenders will usually ask for some combination of:

proof of identity and address
a mortgage statement for the existing loan
proof of rental income
details of your wider portfolio, where relevant
company documents for limited company cases

The exact documents depend on the lender, the property and how straightforward the case is, but getting these ready early can help avoid delays.

Why remortgage buy-to-let properties with John Charcol?

We take care of everything

With 50 years of service, we’ve seen it all. We can save you money, time and make remortgaging your buy-to-let easy.

We’re highly recommended

We have over 2,900 5* reviews on reviews.co.uk, so you can feel confident that your mortgage is in the right hands.

We give personal, expert advice

We work around your schedule to help you arrange a mortgage that suits your circumstances, no matter how complex.

BTL Remortgage Process

Certain circumstances can give you access to lower buy-to-let mortgage rates for limited companies.

To access the most competitive rates, work with a broker who can match your business profile with the right lender.

1. First call

When you contact us, we’ll arrange an appointment between you and one of our advisers – this can be over the phone or face to face. Your adviser will ask you some questions and, once they have all the right information, they’ll go away and find you the best BTL remortgage for your current and future needs. They’ll then organise a follow up appointment to tell you about their recommendation.

2. Decision in Principle

After your adviser has presented you with their recommendation and you’re happy to proceed, they’ll work on securing your DIP (Decision in Principle). Your DIP is a promise from the lender that they’ll loan you the money on the condition that the information you’ve provided is correct and subject to a valuation on the property.

3. Pre-application and submission

After securing your DIP, we’ll start to prepare your mortgage application. We’ll send you a pack that explains all the different documents the lender needs. You’ll be assigned a client relationship manager who’ll go through your documents and get everything ready for submission. Your adviser will then submit your full mortgage application.

4. Lender underwriting and valuation

The lender carries out a process called “underwriting” where they check all the information and documents you’ve provided in your application. They’ll also instruct a mortgage valuation on the property to make sure there are no significant problems with it. Sometimes a lender will only instruct a desktop valuation for a remortgage – rather than a physical valuation – as your property would have likely had a valuation and internal inspection when you took out your first mortgage.

5. Mortgage offer

Following a successful underwriting process and valuation, the lender will accept your remortgage application and send you a mortgage offer. They’ll also send a copy to us.

6. Conveyancing

After you accept the mortgage offer, you’ll go through conveyancing which is where a solicitor arranges all the legal paperwork so you can transfer from one lender to another.

7. Completion

Finally, after you’ve signed all the paperwork, your solicitor will set a date to draw down the new money to clear the outstanding balance with your current lender. Any excess funds will be returned to you. This is called completion.

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BTL Remortgage FAQs

Can I remortgage my buy-to-let property?

Yes, in many cases it is possible to remortgage a buy-to-let property. You may be able to switch to a new deal with your existing lender or remortgage to a new lender altogether. The options available to you will depend on factors such as your credit history, rental income, how much equity you have and the property itself.

Why remortgage your buy-to-let?

You can remortgage your buy-to-let property to release equity if you need to raise some money. It’s also a way to get a better interest rate or change the terms of your existing mortgage deal. Whatever your reasoning for remortgaging a property, it can have an impact on your monthly repayments and ROI (return on investment).

When should I remortgage my buy-to-let?

Usually, it’s best to remortgage your buy-to-let when your current mortgage deal is coming to an end to avoid being transferred on to your lender’s SVR, which is often more expensive. It’s a good idea to start your buy-to-let remortgage up to 6 months before the end of your introductory rate period.

What criteria do lenders consider for a buy-to-let remortgage?

Every mortgage lender has different buy-to-let mortgage eligibility criteria, but the best BTL remortgage rates available to you will depend on your credit history, rental income and how much equity you have. A mortgage broker can take all of these factors into account to find the best mortgage deals for you.

How do interest rates work when remortgaging a buy-to-let property?

The BTL remortgage deals on the market are essentially the same products as the BTL mortgage deals for purchases. This means the interest rates are the same and work in the same way. Interest rates for BTL remortgages and mortgages are often hard to predict and they can fluctuate for extended periods of time. With BTL products in general, the interest rates are usually higher. We would suggest chatting with one of our advisers who can help you identify the interest rates available for your remortgage.

What fees do you pay when remortgaging a buy-to-let property?

There are 6 types of remortgage fees: Early Repayment Charge, Deed Release Fee, Product Fee, Conveyancing Fee, Mortgage Broker Fee and Valuation Fee. You won’t necessarily have to pay all of these when you remortgage. We recommend you discuss these fees with a John Charcol mortgage adviser, as they can walk you through them all long before you finalise your deal.

Why use a mortgage broker for a BTL remortgage?

Our mortgage advisers are experts in all aspects of mortgages and remortgages so we can help you find the best deal. We’ll pair you with an adviser who will find you the best price for your situation so you don’t have to do the hard work. Our brokers will support you every step of the way.

Can I remortgage my home to a buy-to-let?

It is possible to remortgage your home onto a buy-to-let basis. If you’re looking to purchase a new main residence but wish to keep your existing property to let out – or are struggling to sell it – it may be possible to remortgage it onto a buy-to-let product. This is called let to buy. In some circumstances, when you remortgage your previous residence onto a buy-to-let basis, you may be able to release equity to buy another property.

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