Could buy to let mortgage repayments be easier after MPC decision?

10 September 2010

Written by Michael Aglony

People repaying buy to let mortgages may benefit from low interest rates after the base rate was kept at a historic low.

The Bank of England's Monetary Policy Committee (MPC) decided on Thursday (September 9th) not to raise the base rate, which has been at 0.5 per cent since March 5th 2009.

However, speculation is growing that changes may soon be made, chief executive of Santander UK Barry Naisbitt commented.

"The MPC ... faces the tricky task of deciding whether it should ease back a little some time soon or wait to see if it needs to press down even harder," he said.

Dr Andrew Sentance was the only member to vote for an increase in the bank rate in August's meeting and Mr Naisbitt believes the members will have been split about the decision this month as well, as inflation is still above target and gross domestic product grew in the second quarter.

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