Newsfeed
Archive
Rates & Financial News
Landlords urged to 'think ahead' on remortgaging
2009-01-07
Buy to let mortgage borrowers should consider their next policy up to six months before their current deal ends, a property advice firm has said.
According to online company Upad, as reported by aboutproperty.co.uk, landlords need to consider the latest mortgage rates in anticipation for when they need to move on to a new deal.
Citing advice from Upad, the article said: "Buy to let mortgage rates are beginning to come down. Get a mortgage agreement in principle, up to six months prior to your current mortgage ending."
The advice comes as the Bank of England's monetary policy committee is set to announce its monthly decision on interest rates tomorrow - which could see the base rate cut further from its current level of two per cent.
Other tips for landlords by Upad included trying to attract tenants into longer rental agreements and making sure their rents accurately reflect the current market rate.
Those looking to improve their property were recommended to consider low-cost enhancements such as energy-saving light bulbs, loft insulation and draught proofing.
For the latest [mortgage rates] click here
Related Rates & Financial News
'Get organised' on your tax return
Landlords encouraged to compare mortgage products
Landlords face new mortgage rates
Repossession spike following economic downturn
Buy to let mortgage holders benefit from rate cut
Click to view the News Archive
