Another
blow for DSS Landlords
Nationwide pulls plug on mortgages for housing association
tenants
The Nationwide has announced that it is pulling
mortgages for buy to let landlords who intend letting to
housing association tenants.
With maximum rents being reduced to £350 a week
(£500 for tenants with children), the squeeze is certainly on for
those landlords who have previously made a living by making tenancy
agreements with housing associations.
This blow does not affect only landlords, of
course, it will reduce the number of properties in which housing
associations can place tenants, thus making the current housing
shortage even worse (The Government is already considering
implementing proposals to force council tenants who have vacant
bedrooms to downsize - with due consideration to pensioners and the
disabled)
For those landlords who do have tenancy
agreements with housing associations, our landlord insurance is
probably the cheapest on the market, with only two rates, one for
outside outer London and one for outer or Inner London. With
discounts for excesses and a generous no claims bonus, insurance
premiums can be very competitive.
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