Land­lords face rise in mort­gage costs

Yorkshire Post - Property - - PROPERTY -

LAND­LORDS could strug­gle to keep up with mort­gage pay­ments once in­ter­est rates re­turn to more nor­mal lev­els, Land­lord As­sist, the ten­ant evic­tion and rent col­lec­tion firm, says.

Their con­cerns echo other com­men­ta­tors in the sec­tor who are wor­ried that land­lords are not tak­ing into ac­count the like­li­hood of a pos­si­ble rise.

Graham Kin­n­ear, MD at Land­lord As­sist, says: “Whilst my be­lief is that in­ter­est rates may re­main at very low lev­els for sev­eral months yet, a very real prob­lem is po­ten­tially on the hori­zon. The mar­ket for dis­pos­ing of buy-to-let as­sets is far from buoy­ant and once rates in­crease many land­lords will be sus­tain­ing crip­pling monthly losses on their prop­er­ties.”

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