Landlords set to pass on mortgage rate hikes to tenants
Surging mortgage rates could see record rents growing further as affected landlords look to cover the rising cost of borrowing. Liz Truss and Kwasi Kwarteng’s mini-budget has sent the UK economy into freefall and the resulting mortgage rate hike means affected landlords will likely pass on rent rises to tenants, a landlord lobby group has warned. […]
BTL void periods decline across the board
Currently, the average void period across England is 16.8 days a year. With an average monthly rent of £940, equating to £31 per day, this means that void periods are currently costing landlords £518 per year. On a regional level, the longest average void period is in the West Midlands where, so far in 2022, […]
Rental market warning as landlords sell off properties due to ‘anti-landlord rhetoric’
A “dire shortage of accommodation to rent” will worsen as landlords opt to sell due to “anti-landlord rhetoric” from the Scottish Government, an industry expert warned. The Scottish Association of Landlords chief executive John Blackwood claimed a growing housing crisis is not being taken “seriously enough”. He said landlords are choosing to sell their properties […]
Mortgage deals drop 40% as market panic following ‘Mini-Budget’
The total number of mortgage deals on offer has plummeted by more than 40% in the last few days as the fall-out from last week’s Mini-Budget continues. Lenders concerned about possible Bank of England interest rate rises are pulling their products with some suspending their entire mortgage range. Virgin Money, Skipton BS, Post Office Money, […]