More Brits looking to rent their homes

Landlords with empty properties may find that tenancy agreements could be signed quicker than expected as it has been claimed that more people are looking to rent their homes.

This is because it is becoming increasingly difficult to obtain the money to purchase a mortgage, the National Landlord Association (NLA) claims.

Steven Hilton, media relations manager at the NLA, said: "Demand for rental property remains high across the UK as more potential buyers turn to the private-rented sector as it becomes increasingly difficult to get hold of mortgage finance.

He also said that this is leading to "accidental landlords" entering the market as they are not finding buyers for their homes.

According to figures from HM Revenue & Customs, the number of property sales in the UK has fallen by 53 per cent in the past year.

Likewise, in September, 59,000 homes were sold compared to 126,000 at the same time in 2007.

Published on: November 20, 2008

Did you like this article? Share it!

Tenancy Agreement - Unfurnished

Unfurnished tenancy agreement advert
  • Solicitor approved
  • Expert guidance notes
  • PDF format
  • Download now

Read More