Recent research has highlighted increasing positive sentiment amongst landlords, with 60% thinking of increasing their portfolio over the next six months, and 45% looking to remortgage in the next three to six months. Building on this increase, only 3% of landlords are currently considering reducing their portfolios in the next 6 months, which is a considerable reduction from the 6% from 6 months ago.
The same survey also revealed that 95% of landlords include borrowing within their current portfolio and indicated a preference towards 5 year fixed deals over other loan options.
David Whittaker, Managing Director at Mortgages for Business has added “With buy to let mortgage rates at historic lows, this strategy may well prove prudent in protecting them against future interest rate rises. Of those who are not looking to remortgage, we must surmise that some will be keen to hang onto their existing reversion rates for as long as possible. It will be interesting to see whether the situation changes as the year goes on.”