Remortgage on Buy to let and own home

abomb1969

I have a BTL worth £210k with a £130k morrtgage and a mortgage on my home worth £315k mortgage £150k.

I pay 1% over base on the BTL and standard Halifax rate on my home. No getout charges on either. I want to remortage both, reducing the BTL mortgage as much as possible as I will pay a lower rate on my home.

Can anyone suggest a good broker or websites?

Thx

dougk_2

Assuming you are letting out your house thats BTL, then I would have thought you would be better keeping this mortgage higher as you don't have to pay tax on that amount if you place it against your rental income.

Shop around, some BTL rates are as cheap as some of the normal mortgages!

payless

Could check with local Inland Rev or accountant to see if combining debt onto main residence would still allow the original B2L amount to qualify for expenses relief against B2L income ( I have had cases were it was deemed to do so, but heard cases where it caused a problem)
Of course that means debt against main residence - so could lose home if deflauted

B2L rates generally higher, and less "low cost swaps " available

SVR is very high, so certainly should do something about that!