Remortgaging a buy-to-let property
A deal ending, extra borrowing or a change in your rental plans can all prompt a review. Count Ready can help you compare a new lender with the options from your current lender, taking the rent, property, costs and timing into account.
A lower advertised rate does not always mean a cheaper or suitable switch.
What is a buy-to-let remortgage?
A remortgage replaces the mortgage on a rental property with a new loan from a different lender. It may be worth considering when your current deal ends, you want to change the borrowing or you need to review its repayment basis. Taking a new deal with the same lender is usually called a product transfer. The right comparison depends on the total cost, the lender's current criteria and what you want the mortgage to do.
If you are changing a home you live in into a rental property, that is a different starting point. Check your current lender's permission and read our changing a residential mortgage to buy-to-let guide. This page is for an existing buy-to-let mortgage on a property let, or intended to be let, to tenants.
Your current deal is ending
Compare the deal end date and any early repayment charge with a product transfer and a new-lender remortgage. Start early enough to allow for valuation and legal work, without assuming a switch will complete by a particular date.
You want to borrow more
State the purpose and net amount you need. A higher property value does not create an automatic right to release equity; rent, valuation, loan-to-value, credit and lender policy still matter.
You want to change payments
A move between interest-only, repayment or part-and-part borrowing changes the monthly commitment and the capital still owed. A lender may assess a new repayment plan and affordability.
Your circumstances have changed
New tenancy arrangements, a different income position, adverse credit or a larger portfolio can affect lender choice. Explain changes before an application or credit search.
New lender, current lender or more borrowing?
Start with the outcome you need, then compare the routes available for this property and borrower. They are not interchangeable.
Remortgage to a new lender
A new lender assesses the borrower, property, rent, existing debt and its own product rules. A valuation and legal work are normally part of the switch. The old loan is redeemed when the new one completes.
Product transfer with your lender
Your current lender may offer a new rate on the existing mortgage. That can involve a different process and costs from moving lender, but availability, extra borrowing and changes to the loan still depend on its rules. See our product-transfer guidance.
Further advance
If you need additional funds, ask whether your current lender offers a further advance and how it would sit alongside the existing mortgage. Compare the combined payment, rates, fees and repayment dates with a full remortgage.
Stay on the current terms for now
Sometimes an early repayment charge, limited equity, weak rental cover or a pending sale changes the timing. Check what rate applies when the present deal ends and what another review date would mean.
Moving a property between personal and company ownership is not just a rate switch. It can involve a sale, legal work and tax consequences. The limited-company buy-to-let page explains the separate mortgage route; obtain tax and legal advice before changing ownership.
Will switching actually leave you better off?
Compare the cost over the period you expect to keep the deal, not just the new monthly payment. Ask for figures that include the balance to redeem and the amount of any extra borrowing.
Costs on your existing loan
- Early repayment charge and mortgage exit or administration fee, if applicable.
- Current rate and payment until the new deal starts.
- The exact redemption balance, including any interest due at completion.
Costs on a proposed loan
- Initial and later rates, product or arrangement fee and any broker fee.
- Valuation, legal and transfer costs, allowing for any lender contribution.
- Repayment basis, total amount borrowed and early repayment terms.
Fees added to the loan increase the balance and can attract interest. Rental profit is another calculation: allow for voids, repairs, insurance, management costs, service charges and tax. Our buy-to-let rates page covers product comparison, while the remortgage calculator can help explore payment changes without establishing lender eligibility.
What will a new lender check?
A successful earlier application is not a guarantee of a new offer. The property, rent, balance and borrower are assessed against the new lender's policy at the time of application.
Value, equity and property
The valuation determines the lender's loan-to-value calculation. Condition, construction, lease terms, tenancy and intended occupants can also affect mortgageability.
Rent and affordability
The lender may test rent against a stressed interest amount rather than your present monthly payment. It may use a valuer's rent assessment and review the wider portfolio. Our buy-to-let criteria page explains the general checks.
Credit, income and ownership
Existing borrowing, payment history and the applicant's structure matter. Some lenders ask for personal income evidence; requirements vary. If you are self-employed, see the self-employed buy-to-let page. Explain any credit issue before another application.
Purpose of extra borrowing
Some lenders distinguish a like-for-like remortgage from one that raises capital. They may ask what the money will be used for, request evidence and apply different rental or other checks.
The Bank of England/PRA statement describes expectations for relevant lenders and distinguishes certain like-for-like remortgages without extra borrowing. It does not mean every lender must offer a mortgage or use the same rental calculation. The published future version takes effect in January 2027, so this guidance needs review before then.
If you hold several mortgaged lets, the portfolio landlord guide explains the broader assessment. If an existing interest-only loan is close to maturity, read the capital repayment guidance; a new rate deal does not, by itself, clear the capital.
What information should you have ready?
A brief initial outline is enough to identify the next questions. An adviser can then confirm the exact evidence a lender needs and a secure way to provide it.
For the first conversation
- Current lender, mortgage balance, monthly payment and deal end date.
- Early repayment charge, if known, and whether you want extra borrowing.
- Property type, approximate value, current rent and tenancy position.
- Whether you own the property personally or through a company.
- Other rental properties, deadline and any recent income or credit change.
Evidence that may follow
- Mortgage statement or redemption figure.
- Tenancy agreement, rent evidence or a rent schedule.
- Identity, income and bank records requested for the chosen route.
- Company details or portfolio schedule where relevant.
- Details of the purpose and amount of additional borrowing.
Do not upload bank statements, identity images or account numbers in an initial callback message. For a fuller look at possible records, see our buy-to-let income evidence guide. Evidence requirements are lender- and case-specific.
Check the present loan
We clarify dates, balance, rent, property, ownership and what you want to change.
Check costs and criteria
We examine the current lender option and suitable new-lender routes where available, including the likely evidence and fees.
Prepare the case
With your agreement, we help present the application. The lender makes the decision after its own checks and valuation.
Know who is advising you and what it may cost
Check the business
Count Ready Limited says it is an appointed representative of Connect IFA Limited. You can check the Financial Services Register and read about the advisers. The regulatory treatment of a buy-to-let mortgage depends on the facts; some business buy-to-let lending is outside FCA regulation.
Check reviews and fees
Read current Google feedback in its original context. There is no fee for the initial evaluation. The Terms of Business explain fees and payment stages; confirm the charges that apply before instructing chargeable work.
Count Ready is a broker, not a lender. Advice does not guarantee a rate, savings, acceptance or a completion date. Tax, legal and investment decisions may need separate professional advice.
Buy-to-let remortgage FAQs
Is a product transfer the same as a remortgage?
No. A product transfer usually means taking a new deal with the same lender on an existing mortgage. A remortgage moves the borrowing to a new lender. They can differ in rates, fees, checks and the changes you can make; compare both where available.
Can I remortgage before my fixed deal ends?
Potentially, but check the exact early repayment charge and any exit cost against the benefit of switching. The charge may outweigh a lower advertised rate. The current lender may offer other options, subject to its rules.
Do I need another cash deposit?
Usually the discussion is about the property's current value and your outstanding loan rather than a new purchase deposit. If the value or rent does not support the loan you want, additional funds may be needed. A valuation and lender criteria decide the available loan; there is no universal figure.
Can I release equity from a rental property?
Some lenders may consider extra borrowing, subject to property value, rent, loan-to-value, credit, purpose and wider circumstances. Equity on paper is not a guaranteed cash amount. Account for fees and the higher balance before proceeding.
Will my current rent be enough for the new lender?
Not necessarily. A new lender may use its own valuer's rent figure and stress test, which can differ from your current mortgage terms and actual monthly payment. Wider portfolio or personal-income checks may also apply.
Can I remortgage an interest-only buy-to-let?
It may be possible if a lender accepts the borrower, property, rent and repayment plan. Switching rate deals does not repay the capital; check the mortgage maturity date separately from the current product end date.
What if another lender has declined my application?
Find out why before applying again. Rent, valuation, property type, credit, ownership and missing evidence each require a different response. Share the decline reason with an adviser so the next step can be assessed against current policy rather than guessed.
Tell us what you want your buy-to-let mortgage to do next
Share your deal end date, balance, property value and rent, whether you need extra borrowing, and any deadline or issue you are concerned about. A short outline lets Count Ready identify which figures and documents to check next. It is not a mortgage application or promise of savings.
Your property may be repossessed if you do not keep up repayments on your mortgage.