Private landlords could put themselves in a better financial position in time for when interest rates increase again - by overpaying on their mortgages now.

National Association of Estate Agents (NAEA) chief executive Peter Bolton King has suggested that all property owners may wish to act while the base rate is at a record low level of 0.5 per cent.

The NAEA chief's comments come soon after the Council of Mortgage Lenders head of research, Bob Pannell, said many UK consumers will be following this process in the current economic climate.

Mr Bolton King remarked: "If somebody is able to afford the increased payments, then clearly they have an opportunity for managing to pay back some of the mortgage."

He also indicated that there is "nothing wrong in principle"with doing this, before adding that it presents an "opportunity"to help get their finances in check.

Written by Mark Garner


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