The National Landlords Association has moved to reassure buy-to-let landlords that there is no reason for panic following the momentous result of the EU referendum.
It has been a challenging period for landlords, with tax measures such as increased stamp duty, relief cuts and tougher lending criteria imposed. However, the NLA is positive that a Brexit will not be the latest addition to the list of potential problems for landlords.
However, perhaps you shouldn’t put your search for a landlord insurance policy on hold just yet.
This morning, Chancellor Osborne joined the Bank of England in confirming that extensive contingency plans are in place to ensure the financial stability of the UK.
Richard Lambert, chief executive officer at the National Landlords Association (NLA) said, ‘let’s just everyone, take a long, deep, calm breath. Leaving the EU is completely unknown territory and jumping to conclusions isn’t going to help anyone.’
‘We welcome the Mark Carney’s steadying words and his reassurance that the Bank of England and the Treasury have extensive contingency plans in place. Any knee-jerk reaction will have a real impact on our members’ mortgages, tenants’ rents and overall confidence in the market. So we would urge the policy as regards to interest rates should be, to continue the Prime Ministers’ analogy, one of steady as she goes.’