Buy-to-let IFAs to benefit from rate changes

Speaking at the Mortgage Business Expo in Manchester, Andrew Lees, head of sales at Paragon, said rising rates may be bad news for borrowers but it could ultimately generate more business for brokers. “Interest rates will have an impact and investors will start reviewing what they do and so there will be opportunities for advisers,” he said. Lees also claimed property investors should benefit from the movement in the Bank of England’s Base Rate, despite having to pay more for their finance. He said the toughening economic environment would push repossession numbers and see commercial l...