What Does 2019 Have in Store For UK Build to Rent?

But given the volatility it is creating in the value of the pound, it could affect financing costs for overseas investors or those using higher leverage, which will force them to look at different options. 

If you have a high cost of debt it means it is going to have a bigger impact on you,” Cortland Chief Investment Officer Andrew Screen said. “Net yields on UK BTR are around 4%, and if you are geared at 60-70% then your cost of debt can be 4-5%, so all of your income is going to service your debt. If you are exposed to interest rate fluctuations or you are highly geared then you are in a more difficult position.” Screen said Cortland typically borrows in the long-term fixed-rate debt market, for 40 years or more, and volatility creates opportunities for the company and other long-term investors...

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