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Landlords look to protect themselves against future rate rises!

Recent research has revealed that around 60% of all buy to let mortgage business falls into the remortgage category as proactive landlords look to lock in low rates for as long as possible. With continual uncertainty and constant mixed messages from one analyst to the next about the future of the Bank of Englands base rate, one leading mortgage expert has recommended acting now to protect their long term return. Richard Tingey of Options Mortgage Centre said "Our large client base of professional landlords are showing an increasing desire to find the best rate possible and lock in for as long as they can" 

The general consensus seems to be that there will be a likely rise in interest rates from the record low of 0.5% sometime before the next general election. It is with this news in mind that many are looking to act now before its too late. With interest rates having not changed since March 2009 and some key government targets that have been met in respect of inflation and unemployment, failure to act now could leave landlords catching a cold. There was also a clear message in March from the Governor of the Bank of England, Mark Carney, that there was the possibility of interest rates reaching between 2.5 and 3% between now and 2017.

"We have seen a real resurgence in the past few years in the buy to let sector and year on year the level of landlord purchasers seems to increase, continued Mr Tingey. We recommend all clients who have any concerns over medium term interest rates to contact us to arrange a free impartial review"

At Choice Rentals we think that regular and independant financial advice should always be in the mindset of any landlord and whilst we aren't authorised to provide independant financial advice we are happy to recommend the services of Options Mortgage Centre who are qualified to advise on all areas of the market. 

If you would like to arrange a free financial review with Richard or any of the team at Option Mortgage Centre feel free to contact them on 01253 294480 or visit them at www.optionsmortgagecentre.com