How are higher mortgage rates hitting Landlords? 🤷♀️
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
Nearly a third of Landlords are being hit by higher mortgage rates, risking a further squeeze on the number of rental homes available
Key findings from Zoopla:
🔹 Higher mortgage rates are hitting Landlords who have loan to value mortgages of 50-75% hard
🔹 That accounts for 20-30% of Landlords
🔹 While some Landlords are selling up, talk of an exodus is probably overdoing it
🔹 More than a third of Landlords own their properties outright, while another third have loan to value mortgages of less than 50%
🔹 As mortgage rates creep up, Landlords are forced to use more of their rental income paying back lenders, which in turn reduces their own income and creates a squeeze on cashflow
🔹 The net result is either higher rents, or a property sale
For more information, see full report by Zoopla here.
Are you a Landlord with increasing mortgage costs? We have mortgage brokers that may be able to help, please email emma.travers@cavendishproperty.co.uk to schedule a call.
☎📧🗨
For our Daily Property News | Like, Comment and Share | Click here
#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
For properties for sale in Nottingham from Cavendish Residential click here
For properties for rent in Nottingham from Cavendish Residential click here
Latest from the BEST ESTATE AGENT in Nottingham 🏆
Latest from the BEST LETTING AGENT in Nottingham 🏆