Data from a study by BDRC for Precise Mortgages has revealed that around 62% of remortgaging landlords will use a mortgage broker or intermediary, while 21% plan to go direct to their lender.
Almost two-thirds of respondents (63%) claimed that they would be remortgaging to avoid being moved on to standard variable rates.
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The research also revealed that landlords with more than four properties were the most likely to switch mortgage deals (35%).
Alan Cleary, group managing director at Precise Mortgages (pictured above), said: “With buy-to-let rates being reduced, it makes sense for professional landlords to optimise their investments by remortgaging, but clearly landlords need specialist support from brokers as the study demonstrates.”
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