People who rent their homes may be hit by repossession due to their landlords’ debt management problems.
According to new research from the Council of Mortgage Lenders, buy-to-let repossessions are increasing twice as quickly as total mortgage repossessions.
Shelter, citing the figures, has urged lenders to consider tenants when taking repossession action.
“Mortgage lenders must take responsibility and make sure they inform both owners and tenants when taking action to repossess, so tenants are aware they are about to lose their home,” said the charity’s chief executive Adam Sampson.
Mr Sampson also called on the government to help people who have lost their homes due to landlords failing to meet repayment demands.
Across the mortgage market as a whole, repossessions increased by 48 per cent between the first half of 2007 and the first half of this year. In terms of buy-to-let mortgages, repossessions increased by 100 per cent.
Homelessness and housing charity Shelter was founded in England in 1966.
By Morwenna Kearns