THOUSANDS of landlords could struggle to keep up with mortgage payments once interest rates start to rise warned Landlord Assist.
The tenant eviction and rent collection firm has urged them to prepare for an increase.Their concerns echo other commentators in the sector who are worried that landlords are not taking into account the likelihood of a possible rise.
Commercial director Stephen Parry commented: “Many landlords who bought investment properties at a 3 – 5 per cent yield will most likely find that the rent will no longer cover the mortgage.”
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