Interest rate cut good news for landlords
The latest base rate cut of 0.5 percent has been a welcome of good news to landlords in the buy to let market who will now benefit of an interest rate of 1.5 percent for those who are on tracker mortgage.
There is no mistake that the falling house prices will affect the return of one of their largest investments but banks and building societies have said they will reflect the cuts allowing landlords to cover mortgage payments more easily, increasing their rental profits.
Landlords will have to make major changes in order to safeguard their investments at a time where repossessions and missed rental payments are at their all time high.
News brought to you by Insuremyletproperty.co.uk, providing you with insurance to protect your rental property from any unforeseen circumstances.
January 12th 2009