Buy to let mortgage holders 'cancelling insurance'

11 September 2009

Written by Gavin Elley

Nearly one in ten landlords have cancelled their insurance policies in recent times, according to new research.

The study from insurance firm Direct Line for Business suggests that people in the buy to let industry currently harbour some concerns about money.

Indeed, 30 per cent of landlords who took part in the survey said that they are concerned they will not receive tenant rent.

Meanwhile, one in five professionals are worried about their overall cash flow.

Research published this week by the Royal Institution of Chartered Surveyors indicated there may be better news for landlords in the coming months because there has been a reduction in the number of new properties appearing on the rental market.

It was suggested that this could ensure property owners are under reduced pressure to bring down rents, as they will be working in a less competitive industry.

Kate Syred, head of Direct Line for Business, said that her company's study suggests a number of tenants could be at threat from losing their places of residence.

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