Latest BTL arrears figures are good news for tenants – NLA

Nia Williams

August 14, 2009

Vincenzo Rampulla, Public Affairs Officer, commenting on the latest CML figures, said: “We have seen no increase in property possessions in six months and arrears are down 17 per cent, reflecting how much landlords are benefiting from lower interest rates. This can only be good news for tenants.

“But the critical thing here is that more and more lenders are using receivers of rent to manage arrears thereby allowing rent-paying tenants to stay in their homes. However, for buy-to-let landlords the worst may not be behind them. Rent arrears, owing to job losses and financial difficulties, remains a serious concern for many and this is set to continue.

“What is still clear is that the lack of available credit continues to stifle market growth and, therefore, reduce available housing options. We are hearing from a greater number of landlords who are seeking to expand their portfolios but who cannot get the appropriate finance. We would call on lenders to see what more they can do to increase the flow of credit.”

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