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Rental rates ''to rise'' - buy to let mortgages

Published: 7.5.2008

Rents are due to rise because of the continuation of recent property market conditions, it has been predicted.

Stuart Law, chief executive of property firm Assetz, forecast that rents could rise by as much as 50 per cent over the rest of 2008 and 2009 due to the suppression of the housing market, Residential Landlord reports.

He told the magazine this was going to be a continuing consequence of people being deterred from entering the housing market by the restricted availability and affordability of mortgages.

However, Mr Law told the magazine, the recent Bank of England liquidity move involving £50 billion of bonds will start to have an effect from around September, stating: "I expect rates to come down a little by then and for there to be an increase in the number of homebuyer and Buy to Let Mortgages available."

Writing for City AM, property expert Richard Northedge advised landlords that raising rents is necessary from their point of view in the light of higher borrowing costs.

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