BBC News - More pain for renters as landlords look to sell up
Rising interest rates are putting pressure on landlords, pushing some to consider selling up, surveyors say.
In turn, that could further squeeze the availability of rental properties and raise costs for tenants, according to the Royal Institution of Chartered Surveyors (RICS).
Brokers have warned that those who decide to try to ride out the current hikes and move to a standard variable rate for the time-being face particularly big increases.
"A wide range of people are stuck on these super-high standard variable rates, including older borrowers unable to refinance and homeowners who do not qualify for rate switches when their fixed deals end," said Aaron Strutt, of broker Trinity Financial.
"Some lenders have a much higher standard variable rate than others, we tell our clients how important it is to choose a lender that treats its customers fairly when their rates come to an end."
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