Around 95 per cent of landlords have borrowed on their current property portfolio and 45 per cent are looking to remortgage in the next three to six months, research by broker Mortgages for Business has revealed.
The poll of 251 property investors suggested landlord appetite for more purchases stems from the attractive yields available across a variety of investment property types.
Results suggest investors are looking into having portfolios with more diversity, with an increase in those planning to purchase houses in multiple occupation (29 per cent), multi-unit freehold blocks (19 per cent), semi-commercial property (15 per cent) and commercial property (15 per cent).
David Whittaker, managing director at Mortgages for Business, said with buy-to let mortgage rates at historic lows, the fact 45 per cent of landlords are looking to remortgage before the end of this year “may well prove prudent in protecting them against future interest rate rises”.
Of those who are not looking to remortgage, Mr Whittaker said he assumed they were keen to hang onto their existing reversion rates for as long as possible.
He said: “It will be interesting to see whether the situation changes as the year goes on. Accordingly the next survey will include a question about recent remortgaging activity.”
