Most Buy-To-Let Lenders Refuse Loans When Tenants Are On Benefits

Urgent action is needed to tackle discrimination against benefit claimants by mortgage providers, according to the Residential Landlords Association (RLA), which has found lenders representing 90% of the buy-to-let market refuse a loan where a tenant is on housing benefit. Research carried out by the RLA’s mortgage consultants found that two-thirds of lenders representing 90% of the buy-to-let market did not allow properties to be rented out to those in receipt of housing benefit. About 4.2 million people in the UK claim housing benefit. The RLA has called on the government to use the influence it has in banks in which it has shares to end these discriminatory practices. Read more on the Guardian website.

https://www.theguardian.com/money/2018/oct/21/buy-to-let-90-percent-of-lenders-refuse-loans-to-benefit-claimants