Advice needs to get more sophisticated
Both amateur and professional landlords are keen to grow their portfolios and are taking a longer-term view in regards to yields rather than buying property for capital appreciation. With this trend it is expected that the buy to let market will continue to grow this year.
Despite the Bank of England base rate remaining at a historic low for the past three years, the remortgage market was up last year compared with the previous two years. But it looks unlikely the same will be true this year.
Last year mortgage pay rates dropped in the middle of the year, with the interest rates that borrowers could get on a new mortgage starting around the 2% or 3% mark, less than many SVRs.
So for some clients there was a benefit in changing rates, especially if they were looking to fix. These low rates tempted a new pool of people to consider remortgaging.
Read the full story at mortgagestrategy.co.uk
Property management software can assist both letting agents and private landlords managing their own rental property portfolios through comprehensive reporting to have full insight into how well their properties and agencies are performing.