Insurance News Archive

UK has 'dire need' for good rentals from buy to let insurance holders

Posted by Jonathan Walker

Britain is in "dire need" of good rental accommodation provided by the likes of buy to let insurance policyholders, according to new research.

The Association of Residential Letting Agents (Arla) polled delegates at its annual conference for the lettings industry and more than half of respondents said the insufficient supply of rental stock was the biggest issue facing the private rented sector (PRS).

Ian Potter, operations manager at Arla, called for the government to provide "tangible support" for the PRS.

"This should be in the shape of incentives for improvements on older properties, assistance for landlords in gaining mortgage finance, and regulation to drive unethical letting agents out of the industry," he said.

Mr Potter added that it was "imperative" that all parties factor the PRS and buy to let insurance policyholders into their policies.

David Brown, commercial director of LSL Property Services, recently said that the stamp duty holiday for first-time buyers on homes under the price of £250,000 should be extended to landlords.

29 Mar 2010