Buy-to-let mortgage holders 'should seek non-payment protection'

Date:Tuesday 21st April 2009
Author: Max Freedman

People with buy-to-let mortgages should seek protection in case their tenants miss their rental payments.

This is according to, which claimed that an increasing number of consumers who rent properties are at risk of income loss, potentially meaning they may not be able to meet their payments to landlords.

"In the current economic environment, any tenant - whatever their employment - may find themselves in financial difficulty due to some unexpected loss of income," stated managing director Keshav Thukaram.

In order to avoid running into financial difficulties themselves, buy-to-let investors should therefore seek protection such as rent guarantee insurance, the expert added.

Meanwhile, Steve Olejnik, head of sales at Mortgages for Business, recently said that buy-to-let investors should consider taking advantage of the competitive fixed-rate mortgage deals currently available.

He added that the UK's base rate of interest is currently as low as it is likely to get.