Rising mortgage rates force landlords to start selling up – The Times

Michelle has been speaking about the rising rates of mortgages costs which are forcing landlords to start selling their rental properties in an article on The Times!

Michelle speaks about the pressure that the soaring price of mortgages have on rental properties and offers her thoughts on the matter in hand.

More and more landlords are looking to sell up — even if it means losing money on their property — amid falling house prices, rising mortgage rates and savings accounts that now offer better returns than investing in buy-to-let.

Landlords who have sold property this year have made 10 per cent less than those that sold last year as property prices slide, according to research by the Hamptons estate agency. Six per cent of landlords sold for less than they bought for, compared with 5 per cent last year.

Check out the full article here