Starting in the middle of 2016, following the historic Brexit vote and a new tax surcharge on ownership of second and third properties, the remortgage sector not only took off, but became undeniably hot. This sector has not only continued its hot streak until today, but appears to have lasting power. According to the latest figures from the Council of Mortgage Lenders, the remortgage sector activity has pushed buy to let lending activity to its current increased level.

November posted the highest amount of gross buy to let lending since the new tax was introduced in the month of April. More than 65% was buy to let remortgage lending instead of original property purchases.

Remortgage activity in general is still going strong. The average homeowner is still unaware of the vast number of benefits a remortgage can provide, but the mortgage lending tool is becoming more popular. Many have discovered massive amounts of savings are possible. Hundreds and sometimes thousands of pounds per month are being saved after approval.

Interest rates remain in favour of those applying for a remortgage. Lenders are offering attractive deals with low administration fees.

Paul Smee of the Council of Mortgage Lenders commented on the current level of activity within the remortgage sector, saying: "Buy to let lending, driven by remortgage activity, saw its strongest monthly lending level since the stamp duty changes on second properties introduced last April. Despite this, we expect buy to let lending levels in both 2016 and 2017 to prove lower than their 2015 recent peak as further tax changes take effect."