Rents in UK will rise for next five years, experts predict

Rics says falling supply of rental properties and increased demand will lead to 15% rise. UK rents are expected to climb by 15% over the next five years, as the supply of rental accommodation dwindles while demand from tenants continues to go up, according to a survey. Rents are expected to increase by nearly 2% across the UK over the next 12 months, according to the latest survey from the Royal Institution of Chartered Surveyors (Rics). Small landlords are selling up following tax changes that have made buy-to-let properties less lucrative. Rics said they are being hit by the withdrawal of tax breaks and the extra 3% on stamp duty on second homes. At the same time, more people are looking t

What The Interest Rise Means For You.

A borrower with a mortgage of £100,000 will see an increase of £12 in their repayment, according to the Nationwide. The Bank of England has raised interest rates to their highest level in almost a decade but what are the effects of an interest rate increase on day-to-day finances? Who are the winners and losers? It is a modest increase of 0.25 percentage points to 0.75%. Households can expect the cost of their loans and mortgages to go up as banks and lenders lift their own interest rates. Savers, who have had the most to complain about in the low-interest rate environment, may see a modest gain. What will be the impact for my mortgage? Skipton Building Society chief executive David Cutter t

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