Liz Truss Assures Landlords & What Next For Interest Rates?

UK households expect the Bank of England (BoE) to continue on its hawkish policy course when the Monetary Policy Committee (MPC) releases its next decision at 12 noon on 22 September. 

In August the BoE raised its main interest rate by 50 basis points, taking it to 1.75% in its largest move in 27 years. The overwhelming majority of economists believe it is likely the Bank of England will add the same amount on September 22, potentially lifting the the base rate to 2.25%.

With inflation running at a 40-year high and interest rates moving on an upward trajectory many Landlords are looking to the new Prime Minster to offer much needed support to the private rented sector. 

NRLA chief executive Ben Beadle told Property118 that he had spoken personally with Ms Truss at a leadership hustings and received firm assurances on the issue.

“She told me directly that she felt that landlords had been harshly treated these past years under a Conservative government and she wanted to create an environment that rather than landlords selling their properties and leaving the sector, that actually they remain and wish to invest,” said Mr Beadle.

Lenders Continue Rate Increase Trend 
Millions of homeowners face higher bills as banks across the country continue to up mortgage rates.

We have found that almost every lender has increased rates within the last week, in response to the last rate rise and it seems anticipating the next. 

We are available to review your investment and personal mortgages and provide you with access to competitive, long term fixed rates. If your mortgage deal is expiring in the next six months, now is the ideal time to look at whether remortgaging/switching products and fixing your mortgage costs could save you money. 

If you would like to discuss options available to you, speak to a member of the team or our senior broker, Danny O’Keeffe on 0208 364 3444 alternatively schedule a call back by clicking on the button below.

Insurance – Protect You and Your Family
It seems inevitable that we will experience a recession soon. This period is likely to present us with many challenges. We are working with our clients to ensure their insurance protection is comprehensive, focusing on loss of rent, tenant default and critical illness cover. Get in touch with us on 0208 3643444 to discuss the options available to you and your family.

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