PFL in the News
2nd February 2008
Landlords bank on falling rates
A survey among buy-to-let investors has revealed 70% are confident that interest rates will decrease over the next 12 months.
Property for Life, a property investment company, found long-term investors have been feeling the pinch since December, with more than half claiming their finances are stretched due to mortgage repayments and other commitments. However, 69% are certain that this is a good time to buy property, according to Property for Life, with more than 70% confident that rates will also fall this year.
David Austin, managing director of Property for Life, said the buy-to-let sector would underpin the housing market this year. He added: “Now is a great time to buy and long term investors will not be affected by any slight drop in prices that we might see this year.”
“December’s base rate drop has not yet been fully passed on to property owners, but the debate on the wider economic climate may cause investors to feel the need to be more than ever on top of their finances,” Austin concluded.
