Sir, – I’ve just received a notification from my bank that the interest rate on my buy-to-let loan is to increase, and this is the third such notice in the last few months.
The interest bill is now triple what it was last year. In addition the charges for any sort of repairs and maintenance have increased by 15 per cent to 20 per cent.
The rent on the property hasn’t increased in four years and the Government has banned any rent increases.
How exactly does it propose I pay the extra costs?
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I assume that as the Government has decided to cap rents, it now have a responsibility to caps costs, otherwise surely it’s an unacceptable interference that will drive property owners to sell up in even greater numbers. – Yours, etc,
CHARLES McLAUGHLIN,
Portobello,
Dublin 8.
