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Wednesday, April 04, 2012

Don't panic landlords

Don't panic landlords!
Landlords are facing tougher times apparently.

The reason for this is that rents have dipped a bit and btl mortgage rates have gone up a bit.

At this point I would highlight the word 'bit' and maybe marry it with the word 'little' to form the phrase 'little bit'.

The tough times are drawn from a statistic from LSL Property Services of a 1.6 percent drop in average rents, from a peak of £719 to £707 and some of the major BTL lenders increasing their BTL mortgage rates thanks to the Eurozone muck ups. Santander have pushed its fixed rate from 3.99 to 4.35 percent, bringing a £55 increase on the monthly payment on a £150,000 mortgage.

No need to panic yet?

Probably not, unless this divergent trend continues, then maybe it will. ..... a little bit.

But for now lets put it down to the press scratching around for news.

Read full article in the Daily Mail

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