NLA: Interest rate cuts not benefiting landlords
Thursday, 6th November 2008

The National Landlords Association (NLA) has said that lenders need to "play ball" and pass on base rate cuts to landlords.

It asserted that the health of the property market was dependent on a landlord's access to mortgage finance and without rates being passed on, increasing demand for renting would not be met as buyers would not be able to expand their portfolios.

Head of communications at the NLA Simon Gordon said that although the demand for buy-to-let mortgages is high at the moment, landlords are getting frustrated over a "lack of suitable products" on the market.

Mr Gordon continued: "With fewer people able to get their hands on decent deals, there is a danger that the housing needs of many tenants will not be met."

On Monday, the NLA said that bills for landlords were set to rise sharply this winter, asking many to prepare for seasonal property problems such as frozen pipes, heating problems and frozen pathways.