Simon Gordon, Head of Communications, National Landlords Association, said: “It’s about time lenders started to play ball and pass these latest rate cuts on to landlords. Part and parcel of the Government bailout was the requirement for lenders to start lending to consumers. It’s critical for the health of the property market for landlords to have access to mortgage finance.
“Despite recent reductions to the base rate, there is very little evidence that banks and building societies are helping buy-to-let borrowers by cutting their rates. At a time where rental demand is on the up across the UK, many professional landlords will be looking to expand their portfolios, thus providing much needed housing.
“Demand for buy-to-let mortgages is high but landlords are being frustrated by a lack of suitable products. With fewer people able to get their hands on decent deals, there is a danger that the housing needs of many tenants will not be met.”
Mortgage Introducer comment:
Landlords are in the same boat as everyone else then , so for the sake of the ordinary person in the street "come on lenders, cut your rates"!
