Debt advice could aid landlords feeling the pinch
Debt advice could aid landlords feeling the pinch
- Friday, 11 September 2009A number of UK landlords are struggling to cope in the recession-inflicted market, new figures have revealed.
According to Direct Line for Business, 20 per cent of landlords are concerned about their cash flow and approximately one in six have altered their payment terms.
A further ten per cent have gone as far as to cancel their insurance in order to cut costs.
Landlords that find themselves in financial difficulty could consider speaking to a
debt advice specialist.
Kate Syred, head of Direct Line for Business said that the government's recommendation to protect tenants in the event of repossession is a "step in the right direction".
"However with high numbers of landlords cancelling insurance policies to save money, if something were to go wrong, tenants may still find themselves without a roof over their heads," she added.
The Ministry of Justice launched a repossession advice site earlier this year.
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