Buy to let remortgage

Stuey1980

Hi all,

I am currently on Santanders variable BTL rate of 4.24% for my flat, which we used to live in but now rent out. This is very good. It hasnt changed for ages. I am guessing that there will come a point that it is worthwhile remortgaging since I am not tied in? Any thoughts on when this might be a good idea? Obviously at a point in time before interest rates increase, but when might this be? What should I look out for? Am I reasonably safe for a while?
Stu

dimbo61

Crystal ball time !
Whats the LTV of the property and are you getting a good rent for the flat IE 125% rent compared to interest on the mortgage ( is the mortgage Interest only or repayment ?)
Do you have savings to cover void periods when the flat is empty and all the right insurance, safety cheacks etc

Stuey1980

I appreciate that no one knows what will happen or when. But I hope that some people may have a good idea of what will probably happen and some rough timescales.
I have a repayment BTL mortgage. I have savings to cover empty periods. Rent is roughly 175% of mortgage payments. LTV about 55% - 60%. We have been letting for about a year and have all the necessary things in place.