Looking to remortgage your buy to let property?

The table below highlights our pick of the best, buy to let remortgage deals currently on the market. When you remortgage a buy to let property (BTL) you're taking out a new mortgage on an existing property you already own. You can do this either to replace your existing mortgage and potentially move to an improved rate. But you might also choose to remortgage to release funds for home improvements or to raise a deposit to put towards an additional property purchase.

Remortgaging can help you:

  • Save money Remaining on the same deal for the full term of your loan could see you losing out on the opportunity to reduce the total amount paid back, in some cases leading to significant savings.
  • Avoid moving home It can be cheaper and more convenient to adapt or add an extension to your existing home, paid for by remortgaging or a further advance, than to move home.
  • Suit changing circumstances If your financial situation has changed and you now need a mortgage that can accommodate, for example, higher overpayments or a lower monthly rate, remortgaging can get you a deal that better fits your lifestyle.
  • Raise money Higher income or a rise in your property's value means you could increase your mortgage to help pay for major outgoings such as a wedding or your child's university costs, rather than borrowing separately, and in some cases more expensively, from other sources.
  • Consolidate your debts Remortgaging can allow you to release some of the equity you hold in your home and consolidate other debts, such as a car loan or credit cards, which can attract higher rates of interest than that of your mortgage. While this could reduce monthly payments, it may mean you pay more over the long term, so should be carefully considered and professional financial advice sought.

Why speak to an adviser?

The below best buy BTL remortgage deals from John Charcol includes our pick of the best fee free deals available to our clients. Before you decide to opt for one of the buy to let remortgages below, it's important to speak with an independent mortgage expert. Our advisers at John Charcol will be able to assist you in comparing products from across the mortgage market to help you decide which mortgage is best for you and your individual needs. If you could be better off taking out a buy to let remortgage with another provider our experts will let you know.

Current best buy to let remortgage deals:

Initial Rate
?
Total amount of credit
?
Monthly repayments
?
Scheme fees
?
Total amount payable
?
Overall rate
?
Max Loan to value 60%: BTL Remortgage 2 Year 1.39% Fixed.
Initial Rate
1.39% Fixed until 31/07/2019 then 5.00% Variable for term
Total amount of credit
£270,000
Monthly repayments
£1,065
Scheme fees
£2,309
Total amount payable
£449,614
Overall rate
4.50% APRC

Fees and charges:

Booking Fee£0
Arrangement fee£1,999
Valuation fee£310
Other fees£0
Cashback£500

Flexibility:

Overpayments allowed?10% per annum
Early Repayment Charges£74 + 3% til 31/07/2018, £74 + 2% til 31/07/2019 plus £500 cashback repayable

Other info:

Exit fee£74
Basic legalsFree
Special Deal£500 Cashback on completion. Free legal service
Call now for more information: 0344 346 3672
Representative example A mortgage of £270,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 1.39% and then on variable rate of 5.00% for the remaining 23 years would require 26 payments of £1,065.43 and 274 payments of £1,531.13. The total amount payable would be £449,614 made up of the loan amount plus interest (£177,231) and fees (£2,383 which includes exit fees of £74). The overall cost for comparison is 4.50% APRC representative.
Max Loan to value 75%: BTL Remortgage 2 year 1.79% Fixed.
Initial Rate
1.79% Fixed until 30/11/2019 then 3.59% Discounted variable until 30/11/2022 followed by 5.34% variable for term
Total amount of credit
£337,500
Monthly repayments
£1,395
Scheme fees
£1,995
Total amount payable
£557,709
Overall rate
4.30% APRC

Fees and charges:

Booking Fee£0
Arrangement fee£1,995
Valuation fee£0
Other fees£0
Cashback£250

Flexibility:

Overpayments allowed?10% per annum
Early Repayment Charges£90, plus (2% until 30/11/2018, 1% until 30/11/2019)

Other info:

Exit fee£90
Basic legalsPayable
Special Deal£250 Cashback on completion. Free valuation.
Call now for more information: 0344 346 3672
Representative example A mortgage of £337,500 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 1.79%, followed by a discounted variable rate of 3.59% for 3 years and then on a variable rate of 5.34% for the remaining 20 years would require 30 payments of £1,395.46, followed by 36 payments of £1,674.38 and 234 payments of £1,937.96. The total amount payable would be £557,709 made up of the loan amount plus interest (£218,124) and fees (£2,085 which includes exit fees of £90).The overall cost for comparison is 4.30% APRC representative.
Max Loan to value 60%: BTL Remortgage 5 Year 2.33% Fixed.
Initial Rate
2.33% Fixed until 31/07/2022 then 5.34% Variable for term
Total amount of credit
£270,000
Monthly repayments
£1,187
Scheme fees
£2,565
Total amount payable
£443,207
Overall rate
4.20% APRC

Fees and charges:

Booking Fee£0
Arrangement fee£1,995
Valuation fee£570
Other fees£0
Cashback£0

Flexibility:

Overpayments allowed?10% per annum
Early Repayment Charges£90, plus (4% until 31/07/2019, 3% until 31/07/2020, 2% until 31/07/2021, 1% until 31/07/2022)

Other info:

Exit fee£90
Basic legalsPayable
Special Deal
Call now for more information: 0344 346 3672
Representative example A mortgage of £270,000 payable over 25 years on a repayment basis, initially on a fixed rate for 5 years at 2.33% and then on a variable rate of 5.34% for the remaining 20 years would require 62 payments of £1,187.46 and 238 payments of £1,541.72. The total amount payable would be £443,207 made up of the loan amount plus interest (£170,552) and fees (£2,655 which includes exit fees of £90). The overall cost for comparison is 4.20% APRC representative.