I have a rental property with a mortgage that has reverted back to the standard variable rate. I want to remortgage the property to obtain a better rate. The value is £110k, my equity is £30k; i.e.: 72% LTV. Legally, do I have to get a buy-to-let mortgage? A friend of mine has three rental properties that are mortaged, but neither is a buy-to-let mortgage; each of his mortgage providers charge a nominal fee either annually or during tenant exchange. Any clarity on this grey area would be much appriciated.