It might be a lower profit in one sense but, and using your example of a 2k rent, if you push up the rent and the tenant leaves you have a void period. If the house is empty for a month you lose 2k rent, plus you have to pay a month council tax plus various start up costs with the new tenants. This could easily come to 3k. So if you decided you wanted to increase the rent by 250 a month and the tenants left….you’ve now just cost yourself this same amount (over the next year).
Sorry, that’s not the case.
Yep, its helping prices at the pump, saw £1.44 for diesel today.
and rightfully so ....we all lose , the banks always win.
I think he is right, what I would do is secure a rate and then review it before it starts and compare with your present lender and market but you need 2-3 months to get a re mortgage through
Thanks @Uncle Spielberg - appreciate it.
My post was about void periods for BTL mortgages.....not sure what your point is?
I’m on 1.73% and coming off in November
Savings rates have gone up quite significantly - 3.5% is widely available now on instant access accounts, more on notice accounts, PSB payout rate has gone up 5 times in a year etc
Important to remember you can earn £1k p.a tax from a saving account as a standard rate payer. Barclays have a rainy day saver offering 5.12% for 5k and it will probably go up again
60% ltv, 4.29% fixed for 2 years. 3.93% fixed 5 years
I have a buy to let mortgage.
I think our interest rates may start decreasing within a year, but far more slowly than many 'Finance' or 'Government' commentators seem to thinkWhether interest rates effect inflation or not, the BOE are tasked with managing inflation to a Government target and are given one tool to achieve this (all other 'tools' being rather appropriately in Government)
And unfortunately, even if energy costs drop, with a further hike on an already huge food inflation figure due in October this year and no sign of a solution to this, I really can't see any decreases in interest rates for at least another 18 months. Whether they have topped out or not I really couldn't speculate
they don't give a shit , same here , the head of the BOE came out a couple of weeks ago and said pretty much " people are going to have to get used to having less money " a sentiment repeated 48 hours later by the furniture salesman in charge of the RBA.....bunch of cowboys laughing all the way to the bank , inflation doesn't bother them they're mostly minted and actually benefit from inflation ...caaaaaants....!!I think our interest rates may start decreasing within a year, but far more slowly than many 'Finance' or 'Government' commentators seem to think (that's assuming they actually think).
