(06/09/07)
In response to the Bank of England's decision today, 6 th September 2007, to keep interest rates at 5.75%, Lynsey Sweales, marketing director of The Money Centre, one of the UK's largest specialist buy-to-let mortgage brokers, comments:
“Freezing interest rates at 5.75% will provide relief to some landlords who have been finding the market difficult following the past five interest rate rises.
“However, the buy-to-let market is still going strong and despite the past year's interest rate rises our research shows that landlord optimism has remained stable with 69% saying property offers the strongest potential or reasonable potential for investment growth.
“The interest rate rises have certainly meant it is more important than ever for existing and potential landlords to do their research and have a solid investment strategy. Landlords need to be realistic about the gains they expect from the buy-to-let market.”
The Money Centre's research has shown that the majority of investors are in the buy-to-let market for the long-term and see buy-to-let properties as an investment for the future, with short-term rental yield less of a priority.
