Landlords face rise in mortgage costs
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.”