If you own buy to let property, and even if it remains subject to a mortgage, you almost certainly have equity tied up in your investment.
There may come a time when you want to unlock a proportion of that equity – to improve your let property, for example, or to expand your investment portfolio. One of the readily accessible ways of releasing equity from a buy to let property is to secure a remortgage.What is a remortgage?
A remortgage is very simply a new mortgage taken out on a property you already own. The remortgage serves either to replace a mortgage that currently exists on the property or represents a way of borrowing against the property.
As the Money Saving Expert points out in an article last updated on the 4th of February 2020, approximately one-third of all loans on residential property in the UK are remortgages.
You may remortgage a buy to let property in the same way as you may remortgage the home you live in – alth…