The estate agents said buy-to-let remortgage had risen to its highest level to date in 2012 as landlords were looking to use the equity in their portfolio to help part fund the cost of additional buy-to-let purchases.
What’s more, haart said it saw an increasing number of first-time landlords looking to remortgage in order to have the capital to buy a new property whilst at the same time rent out their current property.
David Miles, managing director of haart financial services, said: “Our latest figures show that experienced landlords are happy to continue to invest in property by expanding their portfolios to meet the high tenant demand in many areas of the country.
“It is also interesting that some homebuyers are using the equity in their current properties to invest in buy to let for the first time.
“Whilst lending criteria understandably remains risk averse, there are still many great opportunities for landlords to maximize their yields from all sorts of property across the country and my feeling is that our buy-to-let lending will continue to grow during 2012.”
