Smartlandlord.co.uk
Keshav Thukaram, Managing Director at Smartlandlord.co.uk, comments on the annoucement by the Monetary Policy Committee of the Bank of England of a 50 percentage point cut in the Base Rate of interest.
“The annoucement is welcome news for landlords and may help ease the cost of their mortgages.”
“Many landlords who were on low fixed rates for the past few years have been struggling once their mortgages reached the end of the fixed rate.”
“Most have had to move on to much higher variable rates as the shortage of buy to let mortgages reduced options to refinance. A 0.5% cut will provide welcome relief in the current marketplace.”
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