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Featured - Account Types
What type of savings account do you need?Find out about the different types of savings accounts available to suit a variety of needs.
Savings
ISAs
Residential
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - travel insurance
Travel insurance 2024Discover the best travel insurance policy for your next trip.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
The payment shock for an ageing rental population could impact market dynamics.
Around 350,000 Buy-to-Let (BTL) mortgages are set to mature over the next 12 months, which could see many landlords facing higher rates, according to the Private Rented Sector Report published by The Mortgage Works.
This comes amid a “marked change” in the renting landscape, as the number of landlords with five or more properties rose from 5% in 2010, to 18% in 2021 based on data from the English Private Landlord Survey.
Conversely, in 2021, 43% of all polled landlords owned one rental property, down from 80% in 2010.
Coupled with significant rate increases in 2021, this has continued to present challenges to landlords with the report suggesting that maintaining current levels could have long-term effects.
With a typical interest rate of a BTL mortgage at around 2.7% on those loans due to mature over the next 12 months (according to The Mortgage Works), this includes the likelihood of a ‘payment shock’ of £225 per month.
You can visit our regularly updated buy-to-let mortgage chart to compare the best rates currently on the market.
However, an ageing renting population in part due to the ongoing struggle to get on the property ladder, has led to “strong rental growth in recent years”, which has helped to mitigate pressure in the BTL sector.
For instance, the number of people aged between 55 and 64 privately renting surged by 80% in 2023 compared with 2013.
Meanwhile, homeownership for the same age group is still experiencing an “ongoing decline”, now sitting at almost 10 percentage points below its 2007 peak.
“Understanding the dynamics of the private rented sector has never been so important,” commented Damian Thompson, Director of Landlord at The Mortgage Works.
“The sector continues to support the lives of millions of people across the UK by providing homes for those who either can’t afford to buy or prefer not to own a home”, he continued.
With the report suggesting a “clouded” future for the private rented sector, Thompson looks forward to “understanding new Government’s plans to create a stronger, fairer private rented sector, where legislation works for both landlords and tenants”.
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The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a re-launched 60-day notice ISA from The Stafford Building Society, and a two-year fixed rate mortgage from NatWest.
Each week the Moneyfactscompare.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
Mortgage borrowing increased in July as fixed mortgage rates continue to fall.
Half of prospective first-time buyers say they have given up looking for a property as they feel so overwhelmed. Find out more.
Half of prospective first-time buyers say they have given up looking for a property as they feel so overwhelmed.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a re-launched 60-day notice ISA from The Stafford Building Society, and a two-year fixed rate mortgage from NatWest.
Each week the Moneyfactscompare.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
Mortgage borrowing increased in July as fixed mortgage rates continue to fall.
Half of prospective first-time buyers say they have given up looking for a property as they feel so overwhelmed. Find out more.
Half of prospective first-time buyers say they have given up looking for a property as they feel so overwhelmed.
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