Insurance News Archive
Buy to let insurance holders the 'white knights' of housing sector
Posted by Judith Stevenson
The private rental sector and buy to let insurance policyholders associated with it has been the "white knight" of the housing market for years now, according to an expert.
A spokesman for the National Approved Letting Scheme said that there has been a "desperate shortage" of rental property since the right to buy scheme was introduced.
"The cost of homeownership has been rising, and it is still rising now. It is very arduous for young people starting off," he commented.
"Without the private rental sector we would be in desperate straits," the spokesperson added.
He claimed that even before the credit crunch the attitude towards home ownership was beginning to change, with increasing numbers of people preferring to rent from buy to let insurance policyholders.
His comments follow the British Property Federations call for more support from the government - whoever that may be following the general election - for the private rental sector.
29 Jan 2010
