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News release

Landlords need breathing space

25 Jun 2009

The National Landlords Association (NLA), the leading representative body for residential landlords, has lent its support to a recent article published at lovemoney.com which suggests that landlords should not be treated like pantomime villains.

The article, written by John Fitzsimons, says:

"We need a strong rental sector…our blasé attitude towards the plight of landlords is not a good thing. Too often we overlook the fact that a strong rental sector is essential. Home-ownership is not a right, nor is it right for everyone. And while the social rental sector does a good job, I think it is vitally important to have an equally strong private rented sector, to help take the pressure off the state."

He continues:

"I like the idea of a buy-to-let version of the Homeowner Mortgage Support Scheme. Under the current scheme, mortgage owners are able to defer interest payments on their mortgages for up to two years. Why not extend this to buy-to-let landlords?...Landlords on the whole do a great and invaluable job, and our property market needs them – there are currently more than one million buy-to-let mortgages in place. That’s a lot of landlords at the mercy of circumstances beyond their control."

David Salusbury, Chairman, National Landlords Association, speaking about the article, said:

"This recession has already claimed a growing but small number of landlords who have faced severe financial difficulty. The bigger picture is of a rental sector which is growing and making an ever-more important contribution to the overall housing mix. The UK needs a strong rental sector and this article makes a clear case for offering landlords sufficient space to try and deal with their financial problems. By moving quickly to repossess properties owned by buy-to-let borrowers, the problems of pressure on social housing and increased homelessness will not go away.

"NLA research published in March 2009 indicated that in the previous six months around 44 per cent of landlords had experienced some form of rental arrears. Although during economic turbulence many people struggle financially, this level of non-payment of rent can have direct and severe consequences for both landlords and their tenants."

This press release is based on an article by John Fitzsimons at lovemoney.com It was first published on 15 June 2009. See http://tiny.cc/Ik82Z.

All media enquiries to:
Steven Hilton
Media Relations Manager, NLA
Email:
Tel: 020 7840 8906
Mob: 07508 031 084

Notes to Editors:
Representing landlords from all over the UK, the National Landlords Association (NLA) is the leading organisation for private-residential landlords. It campaigns for the legitimate interests of landlords by seeking to influence decision-makers at all levels of government and by making landlords’ collective voice heard in the media. The NLA helps landlords make a success of their lettings business by providing a wide range of information, advice and services. It seeks to raise standards in the private-rented sector while aiming to ensure that landlords are aware of their statutory rights and responsibilities.

www.lovemoney.com is an independent, employee-owned personal finance site established in 2009 by the personal finance team at the award-winning website, Fool.co.uk. The site provides expert help, intelligent discussion areas and market leading comparison tools. More than 600,000 people visit lovemoney.com every month to get tailored advice on how to build a better relationship with their money.