Buy to let mortgage holders await MPC verdict

10 September 2009

Written by Steve Olejnik

Landlords with buy to let mortgages are set to hear today that interest rates will remain at 0.5 per cent, if expert opinion is to be believed.

Most economic commentators have predicted that the base rate will remain at this record low level for September.

The Bank of England's monetary policy committee (MPC) will announce its decision at noon today.

Ever since March, the MPC has frozen the cost of borrowing as the financial decision makers look to help the economy recover after a year of turmoil and instability.

Various property groups - such as the National Association of Estate Agents - have indicated that the Bank's decision to keep rates at 0.5 per cent has partly contributed to the recent increase in property market activity.

Accountancy company BDO Stoy Hayward published a report earlier this week which predicted that the interest rate will stay at its current level until the final quarter of 2010.

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