Interest rate cut results in 100% interest
free mortgages
Sunday 15th February 2009
Property of the Week from Property Mentor workshop
Area – Devizes, Wiltshire
Property type – House
Number of Bedrooms – 5
Length on Market – 8 Months
Valuation – £299,995
Positive Cash Flow – £801 per Month
Click here to see the testimonial videos
The Bank of England may have only cut their interest rates down to 1% (news.bbc.co.uk) last week, but the impact of such a change has already been felt by homeowners who have got tracker deals.
With many verging on the edge of falling into negative rates, mortgage lenders have confirmed that whilst they will not pay their customers for their loans, homeowners will not have to pay a single penny of interest on their mortgage. Meaning many homeowners are now looking forward to months of no repayments.
Now whilst not all tracker deals will fall into this category, this interest rate cut can still offer great savings for investors.
Those who were lucky enough to get Cheltenham & Gloucester’s minus 1.01% tracker deal (to the Bank of England’s 1% base rate), on a £100,000 property, can look forward to monthly repayments of only 8p.
8p compared to the £500+ increase in profits they will experience from renting out their properties on the buy-to-let market, if using the tried and tested Property Mentor scheme
Even those with repayment mortgages are now benefiting from lower monthly repayments. An investor who has a property worth £100,000 for example at an interest rate of 0.5% would only have to pay as little as £355 a month to own it. Not bad when most £100,000 properties have repayments of £600 a month.
Now factor into the equation that rental prices have risen by 20% in the last year and these falls in monthly repayments could prove to be a great asset.
An asset which at Property Mentor they can help you to achieve.
So offer yourself more – property investments that will keep on working to benefit your property portfolio.
During the FREE 2 hour seminar, you will learn how it is possible to begin researching and stacking your properties so that you can invest, using little, if any, of your own money, with no prior experience and earn a guaranteed positive cash flow of £500+ a month.
Financial freedom is within your reach.
Click here to book your free Property Mentor workshop
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