Remortgaging a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/">buy-to-let<\/a> (BTL) property can be straightforward for most customers, but for others it can be more difficult, especially if things have changed drastically since the first mortgage was arranged.\r\n\r\nGetting the best buy-to-let remortgage for you depends on your situation and a number of key factors, which we cover in this article, so read on for more information about the topics in the contents list below or make an enquiry with us to be matched with a buy-to-let mortgage broker who specialises in remortgages.\r\n<ul>\r\n \t<li><a href="#why-remortgage">Why remortgage a buy-to-let?<\/a><\/li>\r\n \t<li><a href="#remortgage-impacts-btl">How the purpose for the remortgage impacts the best BTL deals<\/a><\/li>\r\n \t<li><a href="#remortgage-to-btl">Can I remortgage my home to a buy to let?<\/a>\r\n<ul>\r\n \t<li><a href="#accidental-landlords">Accidental landlords<\/a><\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li><a href="#main-residential">Remortgaging your buy-to-let mortgage to a main residential mortgage<\/a><\/li>\r\n \t<li><a href="#personalname-or-limited">Borrowing in personal name or Ltd company<\/a><\/li>\r\n \t<li><a href="#ltv-impacts-best-deals">How loan to value impacts the best BTL deals<\/a><\/li>\r\n \t<li><a href="#btl-remo-bad-credit">Buy to let for people with bad credit<\/a><\/li>\r\n \t<li><a href="#personal-income-btl-deals">How your personal income impacts the best BTL deals<\/a><\/li>\r\n \t<li><a href="#rental-income-btl-deals">How the property rental income impacts BTL deals<\/a><\/li>\r\n \t<li><a href="#tenant-type-btl-deals">How the type of tenant can impact BTL mortgages<\/a><\/li>\r\n \t<li><a href="#property-type-btl-deals">How the property type impacts BTL mortgages<\/a><\/li>\r\n \t<li><a href="#best-rates-btl-remo">How to get the best BTL remortgage rates?<\/a><\/li>\r\n \t<li><a href="#talk-to-expert-btl">Speak to a BTL remortgage expert<\/a><\/li>\r\n<\/ul>\r\n[feefo-banner]\r\n<h2 id="why-remortgage">Why remortgage your buy-to-let?<\/h2>\r\nYou can remortgage your buy-to-let to release equity if you need to raise some cash, plus it's also a good way to get a more favourable interest rate or change the terms of your mortgage deal. Whatever the reason you want to remortgage your property, it can make a huge difference to your monthly repayments and, therefore, the return on your investment.\r\n\r\nIf you have finished your fixed or tracker initial rate period, you may find yourself on your lender's standard variable rate (SVR), which can usually be anywhere from 4% up to 6%.\r\n\r\n[box type="shadow" ] <strong>Example:<\/strong> If you have a \u00a3100k interest-only mortgage on a SVR of 5.25% your monthly payments are likely to be around \u00a3438pm. At 75% Loan to value (LTV) it may be possible to get buy to let remortgage deals at say 3.9%, thus lowering your interest by 1.35%, which is \u00a3325pm, reducing your monthly payments by \u00a3113pm, that\u2019s \u00a31356 a year!!! [\/box]\r\n<h2 id="remortgage-impacts-btl">How the purpose of the remortgage impacts the products you qualify for<\/h2>\r\nThe reason why you're refinancing your buy to let property can have a big impact on which mortgage lenders and deals you\u2019ll be eligible for. If you\u2019re looking to release equity for home improvements or to use towards a deposit for another property, your application may be treated differently than it would be if you were simply looking to switch to a better interest rate.\r\n<h3>Releasing equity from a buy to let property<\/h3>\r\nYou can release any equity you've built up in your buy-to-let property over the years, but some mortgage lenders might have caveats where these deals are concerned. The reason you want to release the money can play a part in how much a lender will be prepared to lend, if at all. Read on to find out more about the scenarios where you can remortgage to unlock capital and the restrictions lenders might apply to each one...\r\n<h4>Remortgaging for a deposit<\/h4>\r\nIf you\u2019re a landlord and want to increase your property portfolio, a buy-to-let remortgage is one way of releasing equity to cover a deposit or partial payment.\r\n\r\nAlthough a relatively common practice, there are various rules and regulations in place that can restrict landlords. For example, if you are a higher rate taxpayer or a portfolio landlord (with 4 or more BTL properties), a lender may limit the maximum number of BTLs you can own in order to reduce the risk associated with owning a larger number of properties.\r\n\r\nMost mortgage lenders will be comfortable with a portfolio of 4 BTLs while others will accept as many as 10 properties under one umbrella. A handful of lenders will accept an unlimited number.\r\n\r\nIt\u2019s also possible to remortgage your current home to purchase a buy to let property. Releasing equity in this way is something a lot of our customers want to do.\r\n\r\nWhether a full remortgage, a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/second-charge-mortgages\/second-charge-buy-to-let-mortgage\/">second charge<\/a>, or a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/buy-to-let-portfolio-mortgages-uk\/">portfolio mortgage<\/a> is the right option for you depends on various factors that a specialist mortgage advisor, like those we work with, can talk you through.\r\n<h4>Property improvement<\/h4>\r\nMost mortgage lenders are happy to let you remortgage to release equity for your buy to let property, especially if you want to use the money to invest in making improvements. They\u2019re likely to be even happier as the intended changes will help to increase the value of the property.\r\n\r\nIf your buy-to-let is in an area that\u2019s growing in popularity and you\u2019re using the money to upgrade the property to cash in on the increased rents in the area, all the better.\r\n<h4>Debt consolidation<\/h4>\r\nIf you want to <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/remortgages\/debt-consolidation-mortgages\/">remortgage for debt consolidation<\/a>, some lenders will limit the loan to value (LTV) ratio of the mortgage they\u2019ll offer.\r\n\r\nNot all lenders will consider lending for debt consolidation due to the increased risk, especially for a borrower who has accrued debt in the first place.\r\n\r\nHowever, releasing equity in your buy to let property to consolidate debt is a simple way of reducing the number of debts into a single, more manageable amount and can considerably reduce your monthly outgoings.\r\n\r\nIf you\u2019re considering remortgaging your BTL property to consolidate debt, it\u2019s important to understand the risk of turning repayable unsecured debts into interest-only secured debts. In doing this you could be putting the property at risk, so it\u2019s vital you have a solid <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/interest-only-mortgages\/interest-only-repayment-vehicles\/">repayment strategy<\/a> in place and speak to an expert before pressing ahead.\r\n<h4>Buying out a partner<\/h4>\r\nIf you have a buy-to-let mortgage, it\u2019s possible to release equity to <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/remortgages\/mortgage-buyout\/">buy someone out of the mortgage<\/a>, or even from another property altogether.\r\n\r\nThis is generally acceptable with most BTL lenders. You would need to make a re-application for a mortgage assessment in your own name. Even if you\u2019re staying with the same lender, you would still need to make a fresh application so the mortgage lender could carry out a new affordability check.\r\n\r\nUsual buy-to-let LTV limits apply. Most lenders will accept 75% LTV while others might want 80%. A handful of specialist lenders may accept as little as 85% LTV.\r\n<h4>Commercial purposes<\/h4>\r\nYou could consider remortgaging a buy to let property to take advantage of a commercial opportunity, such as a commercial building or business venture.\r\n\r\nHowever, because releasing equity for commercial or business purposes with a BTL remortgage is only acceptable with some lenders, it\u2019s advisable to speak to a specialist broker, like the ones we work with.\r\n\r\nMake an enquiry and we\u2019ll match you with an expert with experience in <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/commercial-mortgages\/">commercial mortgages<\/a> and BTL remortgages. They will be happy to answer your questions and help connect you with a lender who can arrange a BTL with the right terms for you.\r\n<h4>Switching to a better interest rate<\/h4>\r\nRather than letting your BTL mortgage slip into your mortgage lender\u2019s standard variable rate (SVR), you may want to remortgage to take advantage of the <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/standard-variable-rates\/best-standard-variable-rate-deals\/">best buy-to-let remortgage deals<\/a> available in the market.\r\n\r\nInterest rates fluctuate, so it makes sense to get the best deal by regularly reviewing your mortgages, especially if you have fixed-rate deals which expire.\r\n\r\nThe best way to do this is through a whole-of-market broker, like the ones we work with. Make an enquiry and we\u2019ll connect you with an expert on buy-to-let remortgages. They have the tools and the experience required to ensure you get the best available rates.\r\n<h4>Can I release equity from buy to let for any other reason?<\/h4>\r\nYes! You can potentially use buy to let equity release for just about any worthwhile (and legal) purpose, from renovations, a new car, holiday or even a wedding, assuming you pass all of the lender's eligibility checks.\r\n<h2 id="remortgage-to-btl">Can I remortgage my home to a buy to let?<\/h2>\r\nYes. Remortgaging a home to a buy-to-let is more common than you might think. In the industry, this is known as a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/let-to-buy-mortgages\/">let to buy<\/a> mortgage.\r\n\r\nThis scenario often occurs when someone moves in with their partner or if they inherit a property which they want to move to. Both situations can be solved by either:\r\n<ul>\r\n \t<li>Asking your lender for \u2018consent to let\u2019<\/li>\r\n \t<li>Remortgaging onto a buy-to-let<\/li>\r\n<\/ul>\r\n<h3 id="accidental-landlords">Accidental landlords<\/h3>\r\nThese are just two situations where you may find yourself becoming an <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/blog\/accidental-landlord\/">accidental landlord<\/a>.\r\n\r\nIt\u2019s important to remember that failure to notify your lender that you\u2019re letting out your home without a buy-to-let remortgage, would be considered a breach of your contract and some could demand full and final repayment, which would be financially disastrous.\r\n\r\nIf your circumstances change and you wish to make adjustments to the way you are using your mortgaged property, always consult with your lender to ensure you don\u2019t breach your contract.\r\n<h2 id="main-residential">Remortgaging your buy-to-let mortgage to a main residential mortgage<\/h2>\r\nThere are all kinds of reasons why a property owner might wish to change from a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/switching-buy-to-let-to-residential\/">buy-to-let to a residential mortgage<\/a>.\u00a0 Perhaps you have split with your significant other and you now want to live in the buy to let property you own.\r\n\r\nFor others, it\u2019s a move that might make sense down the line when you want to downsize. Maybe you own a smaller buy to let property that you can move into when you\u2019ve sold your main home, or now want to rent the larger property for a higher return and live in the smaller property instead.\r\n\r\nIf you're interested in switching from a buy to let to a residential mortgage, get in touch and the expert advisors we work with can help you choose the best course of action. Speaking to them before your proceed could help you save time, money and hassle by finding you the right mortgage at the best available rates, first time.\r\n<h2 id="personalname-or-limited">Is the property in your personal name or a limited company?<\/h2>\r\nMortgage lenders can offer different deals depending on whether you\u2019re an individual or a limited company. For investors with small or large portfolios, buying property through a limited company can offer significant tax benefits, especially for higher rate taxpayers.\r\n\r\n<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/mortgages-for-limited-companies\/">Limited company mortgages<\/a> are perfect if you want to buy property as a collective rather than just one or two individuals. They are especially useful if you wish to protect yourself from personal liability should things not go according to plan.\r\n\r\nLending criteria for companies differs from individual mortgages in a number of ways, and different company structures are also treated differently.\r\n\r\nIf a trading company wishes to buy a property, the lender will usually want to see two years of accounts showing income and net profitability. The lender may also require a personal guarantee from the directors.\r\n\r\nIn the case of a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/spv-mortgages\/">Special Purpose Vehicle (SPV<\/a>) - which is a limited company specifically set up to purchase buy to let properties - again, most lenders will need a personal guarantee from the directors to cover the debt.\r\n\r\nYou\u2019ll also need a Standard Industrial Classification (SIC) which specifies the type of business the company is involved with.\r\n<h2 id="ltv-impacts-best-deals">How loan to value impacts the best BTL deals<\/h2>\r\nThe LTV a lender will offer depends on how much you want to borrow and how much equity you have in the property. Keep in mind that all motgage lenders are different and the loan to value can vary considerably.\r\n\r\nFor example, if your property is worth \u00a3250,000, with \u00a3200,00 in equity and you want to borrow \u00a3100,000 over 25 years \u2013 then your LTV is 40%. But if you wanted to borrow \u00a3160,000 \u2013 then your LTV would be 65%.\r\n\r\nThere are lenders who will grant remortgages up to 90% and a few who may lend even more.\r\n\r\nThe advisors we work with are whole-of-market with full access to all mortgage lenders, which means they are ideally placed to find the mortgage to suit your particular circumstances. <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-buy-to-let-specialist\/">Make an enquiry<\/a> for a free, no-obligation chat and let them save you time, hassle and money with the right mortgage, first time.\r\n<h2 id="btl-remo-bad-credit">Buy-to-let remortgages for people with bad credit<\/h2>\r\nIt's possible to remortgage with bad credit. Over the years, we\u2019ve assisted in hundreds of remortgages for people with <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bad-credit-mortgages\/how-to-get-a-mortgage-with-bad-credit\/">bad credit history<\/a>. Almost every time it\u2019s the same story - customers come to us after being declined by a lender or, even worse, having been turned away by their broker.\r\n\r\nBelow is a list of potential credit issues you may be faced with as a borrower:\r\n<ul>\r\n \t<li>Adverse credit overview<\/li>\r\n \t<li>Low credit score<\/li>\r\n \t<li>Mortgage Arrears<\/li>\r\n \t<li>Defaults<\/li>\r\n \t<li>County Court Judgements (CCJs)<\/li>\r\n \t<li>Individual Voluntary Arrangements (IVAs)<\/li>\r\n \t<li>Debt Management Plans (DMPs)<\/li>\r\n \t<li>Bankruptcy<\/li>\r\n \t<li>Repossession<\/li>\r\n<\/ul>\r\n<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bad-credit-mortgages\/remortgage-with-bad-credit\/">Bad credit remortgages<\/a> can be more difficult to arrange. Because of this, otherwise eligible customers can end up being badly treated or messed around by brokers or lenders who simply don\u2019t understand a customer\u2019s circumstances.\r\n\r\nSometimes a customer can end up being misinformed or told that it\u2019s not possible for them to get a mortgage, simply because the broker doesn\u2019t have the necessary experience, or doesn\u2019t know about the lenders who will consider borrowers with poor credit.\r\n\r\nFortunately, the advisors we work with offer an expert service for customers of all backgrounds. We make sure every advisor is trained to handle your enquiry correctly. To make the grade they must prove they know exactly what they are doing.\r\n<h2 id="personal-income-btl-deals">How your personal income affects a buy-to-let remortgage<\/h2>\r\nEvery lender is different and uses different criteria when working how much they will lend you. If you\u2019re a first-time landlord, most lenders have a minimum income requirement of \u00a325,000 per annum for a buy-to-let mortgage, but there are a few lenders who may accept less.\r\n\r\nEssentially, a lender will consider your basic wage along with a number of <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/remortgages\/remortgage-income-types\/">other types of income<\/a>, which may include:\r\n<ul>\r\n \t<li>Bonuses<\/li>\r\n \t<li>Commission<\/li>\r\n \t<li>Benefits<\/li>\r\n \t<li>Second jobs<\/li>\r\n \t<li>Investments<\/li>\r\n \t<li>Dividends<\/li>\r\n<\/ul>\r\nLenders will also take your outgoings into account, and consider things like:\r\n<ul>\r\n \t<li>Debt repayments (car lease, credit cards etc)<\/li>\r\n \t<li>Communication services (phones, internet etc)<\/li>\r\n \t<li>School fees<\/li>\r\n \t<li>Gas\/electricity bills<\/li>\r\n \t<li>Essentials (food, clothing etc)<\/li>\r\n<\/ul>\r\nThese factors will all be used to calculate how much you\u2019ll have available to cover the new mortgage payment. Most lenders will also assess your ability to cover the mortgage payment if there was a rate rise.\r\n<h2 id="rental-income-btl-deals">The property's rental income<\/h2>\r\nThe amount of rental income your buy-to-let property could generate will depend on many factors, including the size and condition of the property and where the property is located. Buy-to-let mortgages are usually only approved if the lender deems them to be affordable. This affordability test is balanced against your personal income, the expected rent, and the value of the property.\r\n\r\nMany lenders require that the annual rental must be at least 125% of your annual mortgage repayments.\r\n\r\nFor example, if your repayments are \u00a315,000 a year, then the rent should total no less than \u00a318,750.\r\n\r\nIf you want to find out what rental properties are going for in the area where you intend to buy, a good place to start is by checking the local estate agents or looking at listings on RightMove.\r\n\r\nLenders use \u2018<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/buy-to-let-mortgage-calculator\/">Buy to let\u2019 stress tests<\/a> as a way to check that you have the ability to repay the interest on the mortgage.\r\n\r\nFor instance, if you have a \u00a3150,000 mortgage and a 5.5% interest cover rate is applied, this brings your monthly interest payments to \u00a3687.50.\r\n\r\nThe equation is \u00a3150,000 x 5.5% = \u00a38,250 \/ 12 months = \u00a3687.50.\r\n\r\nBy factoring in the rate for the rental income of 125%, for the purposes of stress testing, this brings the real monthly costs to \u00a3859.38.\r\n<h3>Buy to let landlords face remortgage crunch<\/h3>\r\nOriginally, the benefits of \u2018buy to let\u2019 tax relief were quite attractive; however, landlords were hit hard by the new tax rates imposed in 2017.\r\n\r\nWhen it comes to buy-to-let mortgages, almost all lenders insist that your rental income covers, not just the mortgage, but other costs as well.\r\n\r\nThese include repairs, maintenance, agent\u2019s fees and mortgage interest. As a costs guide, a study estimated the average costs involved with buying a \u2018buy to let\u2019 house to be around \u00a38,359 a year.\r\n\r\nWhile, generally, the rent required has to be high enough to cover the mortgage payment by 125%, some lenders can ask for a rental income to cover the mortgage payment by up to 145% or higher.\r\n<h2 id="tenant-type-btl-deals">How the type of tenant can impact buy-to-let mortgage deals<\/h2>\r\nThere are lenders who may be unwilling to approve a mortgage based on the type of tenant you have or expect to have. The following tenant types can sometimes be viewed as less favourably by certain lenders:\r\n<ul>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/student-buy-to-let\/"><b>Students<\/b> <\/a>- While students are acceptable to a few lenders, their reluctance comes from a reputation that students have for partying and damage<\/li>\r\n \t<li><b>Tenants on benefits<\/b> - Can be seen as a risk, but less so if they are on disability benefits<\/li>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/hmo-mortgages\/"><b>HMO (Houses in Multiple Occupation)<\/b><\/a> - Can be more attractive if the tenants are contractors or other professionals<\/li>\r\n \t<li><b>Sitting tenants<\/b> - Can be a major stumbling block to a BTL mortgage, because under the Rent Act of 1977, they have the legal right to remain in the property for life and can even pass on the right to a family member upon their death. They also have the right to a \u2018fair rent\u2019 which is often well below the market value. For this reason, lenders are reluctant to agree a mortgage as they classify them as a high risk.<\/li>\r\n<\/ul>\r\n<h2 id="property-type-btl-deals">How the property type impacts buy-to-let mortgage deals<\/h2>\r\nLenders are most comfortable with standard brick with slate roof homes. Any deviation from this or you have a property deemed as non-standard, can affect whether you get the best deal or not.\r\n\r\nExamples of <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/property-types\/non-standard-construction\/">non-standard construction<\/a> include:\r\n<ul>\r\n \t<li>Flats<\/li>\r\n \t<li>High rise buildings<\/li>\r\n \t<li>Thatched roofs<\/li>\r\n \t<li>Stone construction<\/li>\r\n \t<li>Tin roofs<\/li>\r\n \t<li>Felt roofs<\/li>\r\n \t<li>Wooden framed homes<\/li>\r\n \t<li>Metal framed homes<\/li>\r\n \t<li>Solar panels<\/li>\r\n<\/ul>\r\nThere are many other property types that may affect which lenders will consider your application. Talk to one of the advisors we work with for the right advice on getting the best deal, whatever property type you have.\r\n<h2 id="best-rates-btl-remo">How do I get the best buy-to-let remortgage rates?<\/h2>\r\nThere are a number of remortgages on the market and every lender has different criteria when it comes to remortgaging a buy-to-let. The best rate available is dependent on a number of factors including:\r\n<ul>\r\n \t<li>Your credit history<\/li>\r\n \t<li>Your income<\/li>\r\n \t<li>The size of your deposit (higher deposits attract lower interest rates)<\/li>\r\n \t<li>How much equity you have<\/li>\r\n<\/ul>\r\nThe mortgage experts we work with have total access to the whole market, which means they can find the best buy-to-let remortgage rates to suit you and your circumstances.\r\n<h3>Current buy-to-let remortgage rates in the UK<\/h3>\r\nAt the time of writing, buy-to-let rates are relatively low, but you need to consider the future and the implications of interest rises.\r\n\r\nWhen it comes to buy-to-lets, it\u2019s important to think about all of the associated costs of owning rented property. Things like wear and tear, accidental damage, even income tax and agents\u2019 fees should all be taken into account, and these things will need to be covered by the rent you receive.\r\n\r\nProposals put forward by the Prudential Regulation Authority have recommended increasing the criteria for buy-to-let mortgages, because they believe this sector at greater risk of interest rate increases and fear many landlords would not have enough rent to cover the aforementioned costs.\r\n\r\nAll of this makes it vital that when you remortgage a buy-to-let, you get the very best specialist advice available. Which is where we come in.\r\n\r\nThe expert mortgage advisors we work with are specialist whole-of-market brokers. They\u2019ll use all their expertise and experience to find you the cheapest buy-to-let remortgage deal on the market.\r\n<h3>Rates table<\/h3>\r\nFor a quick overview of the buy to let remortgage deals currently available, search through our best buy tables below.\r\n<figure><iframe src="https:\/\/www.mizone.biz\/AutoBuys\/LTE002862.htm?GUID=&INTROUID=&INTREF=" width="100%" height="600px" frameborder="no"><\/iframe><\/figure>\r\n<h3>Fees<\/h3>\r\nThe lowest interest rate, doesn\u2019t necessarily mean the best deal. You have to look at the overall cost, including early repayment charges (ERCs), and the setup costs for the new mortgage, which can be quite hefty. In fact, any savings can be wiped out in fees alone.\r\n\r\nAgain, this is where an expert advisor comes in, guiding you through the traps and pitfalls so you can remortgage your buy-to-let property and end up with the best possible outcome.\r\n<h3>Buy-to-let remortgage deal and rates compared<\/h3>\r\nIt's important to consider the overall cost of the remortgage deals on offer. While one lender might ask for a higher upfront fee, going with them might be cost-effective in the long run, if they were offering a significantly lower interest rate than a competitor with lower fees. Hypothetical example...\r\n\r\nLender A offers a 2yr fixed rate at 3% with \u00a31,000 in fees.\r\n\r\nLender B offers a 2yr fixed rate at 3.5% with \u00a399 in fees.\r\n\r\nSo which remortgage interest rate offers the most savings?\r\n\r\nFor a buy-to-let remortgage of \u00a3105,000:\r\n<table>\r\n<thead>\r\n<tr>\r\n<td style="text-align: center;" width="205">Lender A<\/td>\r\n<td style="text-align: center;" width="205">2 Yr Fixed Rate at 3%<\/td>\r\n<td style="text-align: center;" width="205">Total Cost<\/td>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td style="text-align: center;" width="205">\u00a3105k + \u00a31k fees<\/td>\r\n<td style="text-align: center;" width="205">\u00a3265 pm approx.<\/td>\r\n<td style="text-align: center;" width="205">\u00a37,360<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table>\r\n<thead>\r\n<tr>\r\n<td style="text-align: center;" width="205">Lender B<\/td>\r\n<td style="text-align: center;" width="205">2 Yr Fixed Rate at 3.5%<\/td>\r\n<td style="text-align: center;" width="205">Total Cost<\/td>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td style="text-align: center;" width="205">\u00a3105k + \u00a399 fee<\/td>\r\n<td style="text-align: center;" width="205">\u00a3307 pm approx.<\/td>\r\n<td style="text-align: center;" width="205">\u00a37,467<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\nSavings made by taking the lower rate with higher fee\u00a0= \u00a3107\r\n<h4>Higher fee and better rate, or lower fee and higher rate?<\/h4>\r\nIf the loan is relatively low, say around \u00a3100,000, it might be best to go for the lender with the lower fees, but higher interest. Conversely, if your loan will be around \u00a3200,000 or more, then the higher fee with the lower interest rate might be more financially rewarding.\r\n<h4>The best deal over the term depends on the tipping point<\/h4>\r\nThe \u201ctipping point\u201d is the point at which the size of the loan makes more sense to take a different deal. In this example, if the mortgage was much under \u00a3105k then it will most likely be best to take the mortgage with lower fees.\r\n\r\nSome lenders offer buy-to-let remortgages with no fees, where the savings at lower loan amounts can be even more substantial.\r\n<h4>When is it a good idea to pay a fee?<\/h4>\r\nGenerally, as the loan amount becomes higher, the savings made with the lower rate and higher fee increase dramatically.\r\n\r\nHypothetical example:\r\n\r\nFor a buy-to-let remortgage of \u00a3200,000:\r\n<table>\r\n<thead>\r\n<tr>\r\n<td style="text-align: center;" width="205">Lender A<\/td>\r\n<td style="text-align: center;" width="205">3% Rate<\/td>\r\n<td style="text-align: center;" width="205">Total Cost<\/td>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td style="text-align: center;" width="205">\u00a3200k + \u00a31k fees<\/td>\r\n<td style="text-align: center;" width="205">\u00a3503 pm approx.<\/td>\r\n<td style="text-align: center;" width="205">\u00a313,072<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table>\r\n<thead>\r\n<tr>\r\n<td style="text-align: center;" width="205">Lender B<\/td>\r\n<td style="text-align: center;" width="205">3.5% Rate<\/td>\r\n<td style="text-align: center;" width="205">Total Cost<\/td>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td style="text-align: center;" width="205">\u00a3200k + \u00a399 fee<\/td>\r\n<td style="text-align: center;" width="205">\u00a3584 pm approx.<\/td>\r\n<td style="text-align: center;" width="205">\u00a314,115<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\nSavings made by taking the lower rate with higher fee\u00a0= \u00a31,043\r\n\r\nAs you can see, finding the best <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/buy-to-let-brokers\/">buy-to-let mortgage broker<\/a> to take care of your remortgage for is crucial. Otherwise it could end up costing you thousands more than it needs to.\r\n<h2 id="talk-to-expert-btl">Talk to an expert buy-to-let remortgage advisor<\/h2>\r\nThe advisors we work with are experts in this field and can help you get the best possible deal on a buy-to-let remortgage, so call us on 0808 189 2301 or <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-buy-to-let-specialist\/">make an enquiry<\/a> so we can match you with one of them for a free, no-obligation chat today.\r\n\r\nAll the experts we work with are whole-of-market brokers with vast experience and access to mortgage lenders across the entire market. We\u2019ll pair you up with a broker with the right experience to help you get the right buy-to-let remortgage at the best available price.