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Base rate rise will hit buy-to-let investors hard, says Landlord Mortgages

Specialist buy-to-let broker Landlord Mortgages says the Bank of England base rate hike will deal a blow to buy-to-let investors.

Lee Grandin, managing director of Landlord Mortgages, says: “Today&#39s rate change will result in a significant blow to buy-to-let landlords, the vast majority of whom have variable interest rate mortgages. In the short-term, the change will see the immediate cash flow of many landlords reduced.

“However, the lack of good rental property and the ongoing strong demand to rent should allow most of the extra costs to be absorbed by increased rents. Rental yields will catch up and buy-to-let will continue to provide attractive returns.

“Higher house prices encourage renting rather than house purchase and it is these price changes that will have a much more significant impact than marginal interest rate changes.”


eMoneyfacts launches compliance centre for brokers

IFA web portal eMoneyfacts has launched a compliance centre offering help and advice for mortgage brokers preparing for FSA mortgage regulation. The service, which is free to all Moneyfacts subscribers, includes easy access to an experienced panel of compliance experts. If a broker cannot find the answer to a question on the site or if […]

Inter-Alliance signs five major mortgage clubs

Inter-Alliance says it has taken another step towards achieving an all-of-market lender proposition by agreeing terms with five major mortgage clubs. The clubs include Mortgage 2000, Pink, TMA, Legal & General and Source. Inter-Alliance says the inclusion of these mortgage clubs is seen as an effective means of securing the best terms for those conducting […]

Welsh hotspot

The Welsh property price boom continues unchecked with the UK&#39s biggest house price increases during the past 12 months – up by a whopping 57% in some areas. Wales has effortlessly outstripped most of the UK, boasting four of the top 10 counties with the biggest gains in property prices. In Gwynedd, prices rose by […]

CMLS offers 90% LTV self-cert deal from Future Mortgages

Complete Mortgage and Loan Services is offering an exclusive 90% LTV self-certification mortgage with a three-year discount from Future Mortgages, negotiated through the Mortgage Distributors Cooperative. Offered with prime and mild adverse credit status options, the discounts are 2.25% in year one, 1.75% in year two and 1.25% in year three. No MIG is charged […]


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