9:50 AM, 22nd October 2018, About 3 years ago 5
The RLA is calling on the majority of Buy to Let lenders to stop discriminating against lending to Landlords that let to benefits tenants in their criteria. They are citing and example where a landlord had their Buy to Let mortgage called in, because it was discovered they were letting to a benefits tenant. Click here to see the full article.
RLA research indicates that two thirds of BTL lenders representing 90% of the market do not allow DSS tenants in their criteria.
The RLA have written to, John Glen MP, Treasury Minister responsible for banking asking for the following:
Policy Director for the RLA, David Smith, commented: “With growing numbers of benefit claimants now relying on the private rented sector, it is shameful that many lenders are preventing landlords renting property to some of the most vulnerable in society with little or no justification.
“The banks have had long enough to get their house in order. It is now time to take firm action to stop such unjust practices.”
This is after Letting agents and landlords who advertise that they do not accept benefits tenants have been threatened with legal action on the grounds of discrimination by the National Housing Federation and Shelter (see articles below).
However, could this also be inadvertently throwing landlords under the bus that turn down applications for various reasons to benefits tenants?
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Previous ArticleFreehold maisonette above a shop - mortgage nightmare?
Next ArticleBTL property pick