NLA survey reveals landlords jittery over possible rate increases

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NLA survey reveals landlords jittery over possible rate increases

Any increase in buy-to-let mortgage rates would adversely affect nearly 90 per cent of landlords, a survey by the National Landlords Association (NLA) has revealed.

A rise of just two per cent in buy-to-let interest rates would have a detrimental impact on 89 per cent of landlords the NLA's research shows, with over half of respondents claiming that the consequences would be significant.

"These statistics show how important it is for a landlord expanding their portfolio to construct a sound long-term business plan when considering buy-to-let properties," commented David Salusbury, the NLA's chairman.

The growth in the buy-to-let sector has stood in contrast to the stagnant nature of house prices, which have arguably been hit by the inability of first-time buyers to get on the first rung of the property ladder. Recent figures from Nationwide published last week (Friday, July 29th) revealed that house prices increased by just 0.2 per cent in July.

More significantly, research from Halifax, one of the UK's major mortgage providers, showed that only 32 per cent of non-homeowners have a realistic chance of buying a property within the next five years.

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