Brits ‘face rising rents’

Rental rates on properties around the UK have been increasing in recent months, the Royal Institute of Chartered Surveyors (Rics) has made clear.

The increases could lead to further debt management difficulties for consumers across the country and have been partly put down to housing market inaccessibility.

More and more chartered surveyors have told Rics that they have seen an increase in tenant lettings over the course of the past three months as fewer would-be homebuyers can afford to get on the UK’s property ladder.

“Current economic uncertainty has created an ideal platform for buy-to-let investors to cash in on rising rental levels,” explained Rics spokesperson Jeremy Leaf.

“Many would-be buyers have decided to wait and see how the interest rate cycle will affect the market,” he added.

Parents in the UK are increasingly helping their grown-up children find the money to buy their fist home, according to figures released recently by Alliance & Leicester.