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23/02/2009
Landlords 'seeking legal advice' |
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The National Landlords Association (NLA) has revealed that the vast majority of calls its advice line receives are from property owners wanting to know about the legal eviction process.
It claims that over the past 12 months its call centre has received, on average, 2,500 calls per month, 74 per cent of which are from landlords seeking advice on how to deal with tenants who fall behind with rent.
Richard Price, director of operations at the NLA, says: "No landlord wants to serve notice on a tenant, but the reality is landlords are forced to do this when rental arrears become serious."
At the end of last year, 2.32 per cent of buy-to-let mortgages were more than three months in arrears, according to the Council of Mortgage Lenders (CML), while the arrears rate for market as a whole was 1.88 per cent.
CML figures also show that 41 per cent of buy-to-let landlords own their entire portfolio and do not have a mortgage.
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