Research has come out that indicates the Buy to Let landlords are suffering hard with the credit crunch. In terms of repossession indications show that over 3 times as many investors are losing their properties than normal home owners. Research also indicated by the council of Mortgage lenders that there were 1700 buy to let properties that were repossessed in the first three months of 2009. (source bbc.co.uk)

There are obvious problems for the tenant when a landlord has the home repossessed and it can be a very worrying time. However there is good news if you find yourself in this position as there is a process called receiver of rent. This is where the tenant can remain in their home and they pay their rent to the bank or the repossession company. There are two good points to this, firstly if you are the tenant this gives you some time to find a new property to live in, this is especially the case where the lender is likely to sell on the property. Secondly, the lender can buy themselves more time to decide how they want to proceed with the property in terms of sales process.

This problem has arisen where the landlords were paying too much for their buy to let properties, and having problems covering the rent either by not being able to find tenants for the property or a short fall in the rent. When this is the case it is very easy to fall in arrears with the mortgage and never be able to recover. If you are a tenant or a landlord and are looking for property to rent or advertising then you need to ensure you use services such as Rentright a UK wide Rental Property Advertising site. If you are renting via a letting agent then make sure the agent is using services such as Rentright to gain maximum exposure for your property.

Rental property without tenants in will be losing money.