The National Landlords Association reports that 37% of landlords have tenants are in arrears with their rent and in the past six months, 44% of landlords have experienced rental arrears.
Unpaid rent is forcing more and more landlords into repossession due to unpaid mortgage repayments.
These struggling landlords are often highly geared with high loan to value mortgage levels, and therefore are unable to seek out lower mortgage rates now the BTL mortgage market has implemented lower Loan to Value rates for all new BTL mortgages, with maximum LTV of 75% instead of the lofty 90% LTV of recent years.
This leaves many of these struggling landlords stranded on their existing mortgage with no options to change to better deals.
Many landlords are now literally stuck between a rock and a hard place.
Read more in Citiwire
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