NAEA calls for extra help for tenants

24/04/2009

The government is not doing enough to limit repossessions numbers, estate agents said today.

According to the new National Association of Estate Agents (NAEA) analysis, tenants should also be offered more protection if their landlord has their home repossessed.

Along with other industry groups, the NAEA is currently campaigning for there to be a mandatory period of a few weeks between the renter first finding out about the order and having to move out of their property.

At the moment, eviction can be without notice.

Figures from lenders show that UK repossessions numbers leapt from 27,000 in 2007 to 40,000 in 2008 - and are predicted to rise once more this year as the property downturn and recession drags on.

Peter Bolton King, NAEA chief executive, said: "Tenants should get better protection - they shouldn't just find out the repossession order, there should be a set period of weeks to enable them to make alternative arrangements."

In this week's Budget, chancellor of the exchequer Alistair Darling said that he will extend the current suspension on stamp duty for homes costing £175,000 or less for three months until the end of the year.

Tags; Housing Debt and Bills, Young Family Finances, Recent Graduate Debt,

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