Insurance News Archive

37% of landlords 'currently have tenants in arrears'

Over a third of landlords currently have tenants who are in arrears, while nearly half have experienced this problem in the last six months, according to the latest research.

The National Landlords Association (NLA) says its survey may go some way to explaining why repossessions have risen recently.

Half of the buy-to-let owners questioned said they had attempted to recover their loss of earnings through the courts, with many reporting that they have had to wait months for their case to be heard.

"This is becoming a serious problem for landlords all over the UK," says David Salusbury, chairman of the NLA, adding that even one month of arrears in the current climate can be "the straw which breaks the camel's back".

He asserts that most landlords do not expect to be repossessed, however and recommends proprietors and tenants work together to tackle financial problems.

Last week, Shelter, Citizens Advice, Crisis and the Chartered Institute of Housing launched a campaign calling for better protection for renters at risk of having their home seized.

30 Mar 2009