Private landlords should be cautious about leaving their current buy-to-let mortgage deal, an expert has said.

Simon Lambert, mortgages writer at This is Money, wrote at the news provider's website that many borrowers could find that it is not worth moving their loan in the current climate.

"With new buy-to-let mortgages demanding deposits of 30 per cent and charging rates of five per cent …leaving is probably not worthwhile,"he said.

Those borrowers who do leave early might face a substantial fee, worth at least two per cent of their loan, Mr Lambert added.

His comments follow those made by Redrow Homes' Holly Finer, who predicted that the rental market is positive for buy-to-let borrowers, because the value of their residents will appreciate over time once the market recovers.

Amid the house price slump, the Bank of England cut interest rates from a 5.5 per cent to 1.5 per cent during 2008.

Mr Lambert noted that because of this reduction in the base rate, private landlords on tracker mortgages also might not benefit from moving to a new deal.ADNFCR-2002-ID-19005720-ADNFCR

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