17
May
Low interest rates on buy-to-let mortgages 'good news for
landlords'
People who have invested in buy-to-let property are benefiting from
the low interest rates currently available on mortgages.
This is according to Malcolm Harrison, a private rental sector
expert, who said that the good deals currently available to such
individuals makes it easier for them to pay off their loans.
His comments followed the release of a statement by the Council of
Mortgage Lenders, which suggested that the low rates are continuing
to contribute to a modest improvement in buy-to-let arrears.
It found that at the end of March, the number of loans with arrears
of more than 1.5 per cent of the total amount was 19,300.
This was a fall from the 20,700 recorded at the end of last
year.
Remarking on the prospects of the industry, Mr Harrison said:
"There is a growing demand for the rental market, particularly
because first-time buyers can't get onto the ladder."
