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Five-year fixes most popular among remortgaging landlords: Landbay
['Roger Baird']
Mortgage Strategy
Five-year fixed-rate home loans are the most popular among landlords set to remortgage, says a Landbay poll, but adds that interest is growing among two-year and tracker options.
In the last year, landlord preferences have shifted with greater interest around two-year fixes – the preferred choice for 29% of landlords.
It adds that tracker mortgages have also grown in preference, with 8% of landlords set to choose this option, “perhaps reflecting expectations around interest rates”.
Among landlords choosing five-year fixes, the largest group, 29%, is made up of landlords with portfolios between four and 10 properties — closely followed by those with between 16 and 30 rental properties, at 26%.
“Above all, it serves as a reminder of why it’s important that lenders offer a broad range of options to enable brokers to best support those landlords set to refinance.
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