Property market 'a safe savings option'

Monday, 28 June 2010 11:15

By staff

Many investors will see the property market as an alternative place to put savings funds during a period of historically low interest rates, it is claimed.

Tom Entwistle, director of LandlordZONE, notes that while interest rates are low, demand for rental property is currently high.

As a result, property may seem like a good investment to landlords with funds to place.

However, for those who would need to borrow money in order to make a purchase, expanding their portfolio might not be so easy.

“Obtaining finance at the right price is still very difficult and lenders’ criteria appears to be stacked against business portfolio landlords,” says Mr Entwistle.

His comments follow the publication of the minutes of the June meeting of the Monetary Policy Committee at the Bank of England.

The committee again voted to hold rates at 0.5 per cent, with only Andrew Sentence expressing a desire to see interest rates rise by a quarter of a percentage point.

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