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Landlords deserting LHA market

by admin
20 April 2012
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Over half of landlords surveyed say they can no longer afford to rent to housing benefit tenants because of cuts to the allowance.

The survey by the National Landlords Association (NLA) showed 53% of landlords believe the local housing allowance (LHA) cuts have made it unaffordable to rent to those on benefits.

47% of landlords believe tenants aged under 35 will be hit hardest by the changes and almost 69% of landlords say they can’t see themselves letting to LHA tenants in 2015.

The LHA cuts have seen maximum rent benefit payments reduced to the 30th percentile of local average market rents, rather than the previous 50th percentile.

The age at which a tenant on benefits qualifies for any more than a single room in a shared house has also been raised from 25 to 35, forcing many more people into shared accommodation.

David Salusbury, NLA chairman, National Landlords Association, said: “It’s concerning that so many landlords appear to be planning to withdraw from the LHA market within just three years

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© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

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  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI

© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

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