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The Bank of England has announced that it is cutting the base interest rate to an all time low of 1 percent! This has gone a long way to strengthening the pound in a turbulent global economy. I a single day of trading the pound rose 1.7 percent.

Landlords also stand to benefit from this cut provided that their mortgage is not fixed for a set period. If their buy to let mortgage is a variable rate or tracker mortgage then they will be reaping the benefits of this cut with lower monthly repayments. Unlike most times of economic hardship benefit the buy to let landlord as interest rates are frequently cut, and it is rumored that there may even be a cut to zero percent!

Although the banks have been slow to react there is evidence that a number are now cutting rates to reflect the revised interest rates. If you are a landlord considering a new buy to let mortgage you may want to consider a non-fixed rate mortgage to benefit from any further rate cuts.

Category : Uncategorized | Blog

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Future Financial, Future House, Staffordshire, ST5 0NG

Tel : 0845 299 7904