Renters 'face prospect of repossession' Published: 27/08/2008

Repossessions of buy-to-let properties have seen a big increase since last year's credit crunch, indicating that even rent property is open to elevated risk in the current market.

According to figures from homelessness charity Shelter, the number of buy-to-let repossessions has risen by 100 per cent since last year, a rate twice the market norm. People who have already been frozen off the property market due to high deposit requirements and stringent mortgage deals from high street lenders now face the possibility of abrupt eviction from rented properties.

Adam Sampson, chief executive of Shelter, said: "Sadly, the impact of repossession can be even greater for tenants, who, despite paying rent on time, can find themselves with very few rights and the first they even know about it is when the bailiffs start banging on the door."

Mr Sampson added that lenders should ensure they communicate with tenants if a concerned property is indeed rented, and that courts should be lenient with reputable bill-payers caught out through a lack of openness.

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