94% of residential landlords are certain that there will be significant interest rate rises but not until the beginning of 2011. This is in spite of the fact that the Bank Of England recently decided not to shift on its record breaking low rate of 0.5%.
In landlord circles the prediction is that there may be small rises in rates before the turn of the year but it is likely to be 2011 before we see anything that is really worth talking about. They are also putting a figure on things and coming in slightly higher that the average economic expert with a predicted rise of 1.25%. Others have been forecasting more like 1.1%.
Some landlords are displaying somewhat pessimistic tendencies with 10% predicting the rise to reach 2%. Only one in a hundred are pessimistic enough to predict anything as dire as a 3% rise though, so that is some comfort.
With all this in mind it seems that some landlords are still content to start looking for properties to expand their portfolios especially in the London area. Just under half of London landlords are looking to buy up. the rest of the country is slightly more reticent with the figure being more like a fifth.
