Editor's note: This brief was summarised by The Property AI Newsroom from a report by Landlord Today. Read the original article for full details.
Mortgage rates up again ahead of Bank of England decision
Mortgage rates have risen for a second time, pushing borrowing costs higher just ahead of the Bank of England's base rate vote tomorrow.
Analysis by Moneyfactscompare shows the major banks have raised rates, driven by higher swap rates. NatWest, Santander, HSBC, Lloyds Bank and TSB have all increased rates for the second time since the start of September.
What this means for agents and landlords
With borrowing costs climbing twice in a matter of weeks, buy-to-let investors may face renewed pressure on affordability ahead of the Bank of England's decision. Letting agents should be aware that landlords remortgaging in the coming months could see higher costs, which may influence rental market activity.
Source: Landlord Today