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Andy Young the Chief Executive of TBMC comments on the increase of remortgages by existing landlords -
“During quarter three 53% of offers were for remortgages, which suggests that existing landlords are looking to release equity in order to expand their portfolios. This improvement in the remortgage market can be attributed to an increase in the number of good deals available specifically for refinancing and evidence that house prices may have bottomed out, providing suitable conditions for further property investment. Also noteworthy is that around 85% of offers were made to people who are 40 years old or over, compounding the finding that experienced landlords are now remortgaging.”
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1 comment:
This may not have to be the case for long as we have recently been reading reports of falling prices in the market. It’s not good news for the tenant though, as the more the landlord is having to spend, no doubt somewhere along the line, the cost will be passed on to the tenant in their rent.
Sophie Hobson, deputy editor, LondonlovesBusiness
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