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Thursday, January 08, 2009

Some Landlords Gain from Another Bank Rate Cut

The bank of England has cut the bank base rate to its lowest rate in 300 years. Read more

The bank rate has been reduced by 0.5 percentage points to 1.5pc.

Some landlords will benefit from reduced mortgage rates but many will not, because of either mortgage collars, fixed deals or restricted deals because of high LTV.

So very good news for some landlords and highly frustrating news for other landlords.

When this doesn't work then listen out for Alistair Darling donning his overalls and oiling up the printing presses.

Your darling Margo, reporting from the Bank of England, News at Ten.

Back to you Trevor in the studio.

Please post any ideas how Gordon can get us out of this mess?

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