Shelter reports on property struggles of renters
It is not just homeowners who are struggling with the declining property market, renters are also developing difficulties.
Such is the assertion of Shelter, which points to research carried out by the Council of Mortgage Lenders (CML) which revealed that repossession rates within the buy-to-let sector are rising at a rate twice the speed of the entire mortgage market.
Figures from the CML show that during the first six months of this year repossessions for buy-to-let mortgages increased by 100 per cent in comparison to the same period in 2007.
Adam Sampson, chief executive of Shelter, said: "These figures show the shadow of repossession is no longer just cast over homeowners, but also thousands of innocent renters who have no idea how close they are to eviction."
He called on the government to do more to protect those who find themselves being at risk of becoming homeless as a result of their landlord being repossessed.
The comments by Mr Sampson could be of interest to those with jobs in housing.
Earlier this month Shelter reported that the government should invest all of the £8 billion it has set aside for housebuilding for the next three year immediately.
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