Landlords remortgaging to raise capital for further investment
Landlords across the UK are remortgaging property more and more in a bid to raise capital that is used for further investment.
According to buy-to-let broker Mortgage for Business, landlords are carried out this activity much more in 2012 than in 2011, with figures jumping from 55 per cent to 80 per cent in the space of 12 months.
The coming year is set to be a busy one for those leasing property with a large number recently stating in the Private Rented Sector Trends study from Paragon Mortgages that they would be looking to expand their portfolio.
This could be sparked by a host of people remortgaging houses in multiple occupation to help them afford more assets.
David Whittaker, Mortgages for Business managing director, said: “Property prices are flat and tenant demand is stratospherically high, which is why more landlords are refinancing and manoeuvring themselves into a position to add to their portfolios.”
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