Over three-quarters of (78%)of property owners are considering remortgaging this year seeking to take advantage of low rates and competitive lending deals, according to research conducted by the organisers of this year's Property Investor Show North.
The research claims the number of homeowners looking to remortgage has risen consistently over the last three years, revealing a 25% increase since 2002.
The survey also reveals that 80% of property investors would use additional funds gained through re-mortgaging to reinvest in additional property, emphasising the confidence the majority of investors still hold in long-term gains of the buy-to-let market, despite negative reports and forecasts from some industry commentators.
Another recent survey also conducted during the show reveals nearly 85% of people are still relying on their property portfolio or home to provide them with future wealth.
Nick Clark, managing director of the Property Investor and Homebuyer Show North, says with interest rates still low and a like decrease in the next few months he is expecting to see more homeowners and property investors remortgaging to take advantage of competitive deals.
Lee Grandin, managing director of Landlord Mortgages, adds: “There has been a visible surge in remortgaging over the last few years, recently we have seen many buy-to-let investors opting for lifetime trackers as they are at their lowest rates above the base rate.
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