Interest rates remain at record low
People living in property to rent in Fulham and flats to rent in Wandsworth will have learnt that the Bank of England held interest rates at 0.5 per cent yesterday.
It is the fifth month in succession that the Bank's Monetary Policy Committee has frozen the cost of borrowing at this record low level.
Although the base rate is low, first-time buyers are still finding it difficult to get on the property ladder, which suggests that property to rent in London and other parts of the UK may provide a more affordable accommodation option for many.
However, the low interest rate has been good news for some people involved in the private rented sector, according to Smartlandlord.co.uk's Keshav Thukaram.
The managing director of the residential landlord service website said that some landlords such as those with variable rate mortgages are "having a cash ball" because of the current low cost of borrowing.
Written by Ben Carter
Published 7th August, 2009
© 2009 Estates IT Limited
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