View more on these topics

CML supports repo rethink to protect tenants

The Council of Mortgage Lenders has backed a campaign aimed at getting better protection for tenants who face eviction because their landlord is repossessed.

Four housing charities, including Shelter and Citizens Advice, say they are concerned at the growing numbers of private tenants who face eviction with little warning because their landlord has defaulted on mortgage payments and the lender has taken possession of the property.

The campaign is calling for a change in the law in order to give courts the power to defer repossession to allow the tenant to find other suitable accommodation. The National Landlords’ Association has also backed the campaign.

The CML says the group most affected will be tenants unwittingly renting properties under owner-occupied mortgages without the lenders’ knowledge or consent and says legislation around this needs to be reviewed.

Director general Michael Coogan says: “Good tenants should not be disadvantaged, and nor should lenders, by the irresponsible behaviour of a small minority of landlords. We look forward to working with the Government and advice agencies on effec- tive measures.”

Recommended

Positive aspects

Spring is my favourite season. The first warm rays of sunshine and the profusion of colour from the spring flowers lift my spirits – and people smile more. So, while in a springtime mood, I want to take a more optimistic view of the world of financial services and talk about something positive.

'Feeling the Squeeze'

Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com