Tenants seeking mortgage references
British tenants, fearing their rented homes may be repossessed before the end of a lease, are demanding landlords give references to show they can make mortgage payments.
Falling rents and sales prices have hit Britain's landlords hard and many are having properties seized by mortgage lenders.
Lucy Morton, the managing partner and head of lettings at WA Ellis, said growing numbers of tenants who paid rent one or two years in advance wanted landlord references.
'I have been in the market for 25 years and find that it is something that tenants are now asking, because they want to be reassured that the property won't be repossessed,' Ms Morton said.
Statistics show 46,750 homes were repossessed last year, a 68 per cent increase on 2007, when 27,900 properties were seized.
Ms Morton's revelations coincide with new figures that show the rental market is suffering its biggest downturn since the 1970s.