Tenants hit by rate rises

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Tenants are likely to bear the costs of recent interest rate rises over the past year, according to Assetz.

The property investment specialist says that as mortgage costs increase, more people will seek rental property, which will allow landlords to increase rents. Landlords will also increase rents to cover the increased costs of borrowing due to five interest rate rises in the past 12 months. Assetz say they think the recent spate of interest rate rises is disproportionate to the threat posed by inflation and that the Bank of England should let the effects of previous rises settle in before making further moves. Stuart Law, managing director of Assetz, says: “It can take more than two years ...

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