Lower interest rates 'good for landlords and tenants'

New figures from the Council for Mortgage Lenders (CML) represent "good news" for tenants, the National Landlords Association (NLA) has asserted.

According to Vincenzo Rampulla, the NLA's public affairs officer, there has been "no increase" in property possessions during the last half-year and landlords are benefitting from lower interest rates - with arrears down 17 per cent.

"This can only be good news for tenants," he stated, although he added that rent arrears do remain a "serious concern" for many buy-to-let landlords.

He added that due to a continued lack of available credit, housing options are reduced and market growth has been stifled.

Paragon, also commenting on the recent CML figures, suggested that more should be done by the government to improve lending activity in the private rented sector, or else people may soon be priced out of rented accommodation as there could be fewer properties available and rents could increase. ADNFCR-2353-ID-19316103-ADNFCR

17/08/2009 16:37

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