Buy-to-let landlords are being hit by higher interest rates, higher costs and a less friendly tax regime. ; Many have seen their mortgage costs spiral meaning they by and large will be hoping for falling interest rates just as much as homeowners and first-time buyers. ; There are roughly two million buy-to-let properties that have a mortgage attached, according to the trade association for the banking and financial services sector, UK Finance. ; The average two-year fixed rate buy-to-let mortgage is currently 5.24 per cent, according to Moneyfacts. The average five-year fix is 5.29 per cent.
Buy-to-let (BTL) is a popular investment strategy where an individual purchases a residential property solely intending to rent it out. This can be lucrative, providing a steady income stream and potential capital growth over time. But besides the benefits, what are some key considerations before entering the buy-to-let market? Read this guide to answer such questions. Because of the evolving landscape of the UK rental property market, the question arises: Is buy-to-let still a viable investment...
The buy-to-let market has been battered by rising mortgage rates - but for many landlords this just means a good buying opportunity.
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Landlords would need to raise rents by £614 a month in London and the South East to remortgage at current rates without making a loss. ; Rents would have to increase from £1,498 to £2,112 a month – a jump of 41pc, according to Hamptons estate agents. ; The average two-year buy-to-let mortgage rate has reached 6.44pc, while five-year deals are at 6.31pc, according to data company Moneyfacts. Two years ago, the average two-year deal was at 2.96pc.
1. Main Points ; A data visualisation tool has also been published that provides further breakdowns in a web-based application. The tool can be found here. For feedback related to the content of this publication and visualisation tool, please contact us at ****@*******.***.** · Mortgage and Landlord possession actions have continued their steady growth in 2023. Mortgage possession claims now sit around 65% of what it was in 2019. The statistics this quarter shows mortgage possession actions have continued their gradual upward trend with mortga ...
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By Kevin Peachey ; The number of people falling behind on their mortgage payments rose sharply over the summer months, figures from the banking sector show. ; Rising interest rates have put pressure on homeowners, with 87,930 in arrears said UK Finance, up 18% compared with July to September last year. ; Among landlords, the number in arrears doubled in a year. ; Home repossessions are rare, but lenders and charities urge people to act early when facing trouble.
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For technical detail, please refer to the accompanying... repeated for landlord possession actions. When compared to the... Median timeliness for landlord repossessions has increased when...