Tenants hit by repossessions

27 August 2008

Figures released by the Council of Mortgage Lenders has revealed repossessions of buy-to-let properties are increasing twice as quickly as the mortgage market in total.

The charity Shelter, citing the statistics, said tenants are now being hit by their landlords` debt problems.

Chief executive Adam Sampson commented: "These figures show the shadow of repossession is no longer just cast over homeowners, but also thousands of innocent renters who have no idea how close they are to eviction."

He went on to say that mortgage lenders should make both landlords and their tenants aware of repossessions before they occur.

Furthermore, the government needs to take action to help renters who have been made homeless due to the property owners` debts.

Losing a home – and a deposit – could also mean debt problems for tenants as well as potential homelessness.

People struggling with mortgage repayments may wish to seek professional advice. A number of options are available to get through debt.

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