Bank of England Leaves Base Rate at 0.5% in April 2018

Bank of England Leaves Base Rate at 0.5% in April 2018

40 percent of landlords we surveyed earlier this year indicated that the new laws and regulations being introduced meant they were already considering increasing rents and 29 percent said a rise in the base rate was their biggest worry in 2018.

We welcome the decision by the Bank of England to keep the base rate lower for now, as it’s clear that for a large number of British landlords, an early increase in mortgage repayments could have been the final straw, leading them to increase rents or even sell their property.

Despite this apparent reprieve, landlords still face huge pressures, including the impending tenant fees ban, loss of mortgage interest tax reliefs and regulatory changes which mean many landlords may still feel they will still have no choice but to raise rents to cover their costs, which could negatively impact the lives of tenants and make housing increasingly unaffordable.

 
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