The Residential Landlords Association has pledged support and practical legal assistance for a north west MP’s Private Members Bill to protect tenants from losing their homes if the landlord defaults on a mortgage.
The first reading of the bill yesterday (16 December) was an initial step to becoming law and, the RLA maintains: “it’s important that action is taken at the earliest opportunity to protect the interests of tenants.”
The association – whose members own over 100,000 private rented properties throughout the UK – is backing Bolton South East MP Dr. Brian Iddon’s bill because “it does not help the reputation of the private rented sector for tenants to lose their homes in this way, often with little or no warning,” says the RLA secretary and solicitor Richard Jones.
“We responded to recent consultations by urging the government to introduce appropriate legislation and, despite the many legal issues involved, this needs to be kept as simple, straightforward and non-controversial as possible.
“We are more than willing to provide assistance or comments, as the bill is drafted, because a solution to the mortgage defaulting problem can only benefit landlords and tenants alike without creating undue consequences for commercial mortgage lenders.”
The Residential Landlords Association is a leading national organisation with members owning over 100,000 properties in the UK’s professional private rented sector. The range of members’ services – on www.rla.org.uk – includes legal advice, insurance, financial services, credit referencing and training.