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Landlords growing anxious over rental arrears
12 December 2008 17:11
British landlords are becoming increasingly anxious of how the credit crunch will affect their tenants' abilities to pay rent.
That's according to statistics published by the National Landlords Association (NLA), which show that 71 per cent of buy-to-let owners fear that rental arrears will surge over the next year.
What's more, the investigation discovered that over a third of landlords are presently having difficulties getting their occupants to pay rent.
Chairman of the NLA, David Salusbury, said that landlords were becoming worried that their tenants would not be able to stay on top of rent payments over the next year.
He added that this was a major concern for those with buy-to-let mortgages, but keeping good communication between landlord and tenant was vital for preventing any problems.
In other news, Alliance and Leicester has unveiled reductions of up to 0.5 per cent in its fixed-rate deals, while also introducing a new tracker mortgage product.
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