Rents rising but Landlords want more

The price of renting a home increased 2.2% over the past six months, according to new figures released this week.

Buy-to-let advice site Property Hawk said the rise is “good news” for landlords.

However, a recent poll by Direct Line found 20% of landlords are worried about their cash flow.

A further 29% fear that banks will increase interest rates on buy-to-let loans in the coming months, while 30% are concerned that their tenants will stop paying rent.

Nearly one in ten (9%) landlords have cancelled insurance on their properties to save money.

Chris Horne, Property Hawk editor, said skimping on insurance is “really not worth it” as it could leave landlords liable for millions of pounds..

Direct Line added that tenants in uninsured properties could find themselves “without a roof over their heads” if something went wrong and the property became uninhabitable.

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