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Remortgaging Investment Property

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  • Remortgaging Investment Property

    Hopefully, there will be someone who is able to point me into the right direction.[/font]
    My buy to let ‘Interest Only’ mortgage on my Investment Property will be reverting to its SVR around the middle of April (the two years ‘lock in’ period will be up). At this time, I will be looking at selecting a mortgage that is considered the most attractive at the time, and would be looking at remortgaging with another (or same) lender.[/font]
    I am an Australian Citizen living in Australia, and am wondering since I already have a mortgage in the country, will it be easy to organise this re-mortgage. Or will I be offered less products due to my nationality.[/font]
    What are the good deals at the moment?[/font]
    I have had the property for about 4 years, and after I sort out the remortgage, will look at getting a valuation on the property in order to use the equity (if any) and use this as a deposit for another property.[/font]

    Is it best to go fixed or variable, based on the BoE base rate. I have heard through the press over here that interest rates are coming down over there? I only wish they will do the same over here……..[/font]

    Cheers

  • #2
    I'm not convinced that interest rates are coming down any time soon - too many economic indicators working against it, ie, high inflation, and high consumer spending.

    As for your personal circumstances - to be honest, there are a lot of changes happening in the mortgage market, not least with lenders tightening their belts. I'm afraid I wouldn't therefore be able to comment on your personal circumstances, as the options available to you are likely changing fairly fast on a week by week basis.

    2c.

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