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Demand for rental homes 'kept high by mortgage finance difficulties'

A difficulty for consumers to obtain mortgage finance is causing a continued demand for rental property, it has been reported.

Steven Hilton, media relations manager for the National Landlords Association (NLA), has claimed that problems getting on to the housing ladder is resulting in more would-be buyers resorting to the private-rented sector.

The NLA representative added that people's inability to get a mortgage has caused a significant number of Britons to be become "accidental landlords", where they choose to rent out their home as they are unable to sell it.

However, he stated that such landlords need to be conscious of what is legally required of them.

Mr Hilton said: "There are a number of rules and regulations to which landlords need to adhere to or they face stiff penalties."

The comments made might be of interest to those looking to obtain landlords insurance.

Meanwhile, Simon Gordon, head of communications for the NLA, recently called on banks and building societies to pass on recent interest rate cuts from the Bank of England on to rental landlords.

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