The current cost of living crisis and expected rise in interest rates has caused many letting agents, landlords and renters to be concerned. Many fear that the recent changes are driving up the cost of rent for tenants, and that there is not enough accommodation available to meet the growing demand as more landlords consider selling their properties once the tenants' lease ends.
He explained that some landlords are considering selling as their tenancies have finished whilst others are considering selling in the future. Mr Reilly said: "The interest rate side of things could affect affordability and profitability from a landlord's point of view. I would say yeah definitely." When asked her thoughts about the rising interest rates, Ms Edlin said: "At the moment it is too early days to say. Mortgage lenders are being a bit skitzy by putting their rates up, so I don't know.
The 38 year old added: "I live on my own and I turn off all my plug sockets when I'm not at home, I don't even leave the TV on standby." Linda Fern, 64, of Grantham, is the acting landlady for a property in Fernwood, near Newark, which she is managing on her daughter's behalf. "It's caused mayhem in the finance sector. It's just been very difficult for people." When asked if her rent had gone up and if she had any concerns over the cost of living crisis, a 62 year old of Newark, said: "yes and yes."
When landlords sell a house they don't bulldoze it to the ground you know. The number of houses remains exactly the same...
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