Landlords urged to remortgage

David Whittaker, managing director of Mortgages for Business, said: “It is surprising, but no doubt a positive move that lenders have already passed the full base rate cut onto customers by shaving 0.5% off their standard variable rates. This alongside the government rescue package should instil confidence in the market and we urge any borrowers who have been sitting on standard variable rates to act quickly in looking at new products that will be released into the market in the forthcoming days.”

Whittaker continued, “We urge all landlords to speak to their mortgage broker quickly, a good broker will be able to give the best advice at this potentially volatile time in the market.”