The Times: Buy-to-let: is it time for landlords to sell up and move on?
Trinity Financial's client Amar Riaz is preparing to put up rents for some of his tenants who are mid-contract for the first in almost 20 years.
Riaz, 52, who owns rentals in London, Cambridge, Birmingham and Manchester, has no other way to combat the steep rise in his mortgage costs.
Amar Riaz’s repayments have soared
He has just remortgaged a one-bedroom flat in Birmingham and repayments on the £102,000 loan are going from £288 to £506 a month on his new three-year rate at 5.85 per cent.
Aaron Strutt from the mortgage broker Trinity Financial told The Times: “Landlords have taken a real hammering and the soaring cost of borrowing is the last straw for many.”
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