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Many tracker buy-to-let landlords will see some significant savings on their mortgage repayments thanks to the rate cut of another 0.5%, but they have to be aware that this doesn’t solve all their problems.

Keshav Thukaram, managing director of smartlandlord.co.uk, says:
"The interest rate cuts will immediately benefit those landlords who have tracker mortgages – this will help improve rental yields and increasingly the rents will cover the mortgage payments.

"However, landlords cannot afford to ignore falling housing prices that impacts on their return of investment. They need to take extraordinary steps in these extraordinary times to safeguard their investments.”

This means making sure your mortgage is working for you. It means getting financial advice even if you have just had a rate windfall and it means working out what to do with the extra money to maintain their investment through this downturn.

If you have a buy-to-let tracker, talk to a mortgage adviser and see how much you mortgage rate may have fallen now the interest rate is just 2% – then talk about the rest of the year and how best to use that windfall.

To keep up with the latest News and comment on the UK buy to let market visit the Buy to Let Mortgage Blog