Landlords 'must ensure they are legally compliant'

News Category: Management

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Property letters have been called upon by the National Landlord Association (NLA) to ensure they are operating their businesses in full compliance with relevant regulations from mortgage lenders.

The warning comes in response to new government proposals to offer greater protection to tenants at risk of eviction due to landlords having illegally let their property on a residential mortgage.

Steven Hilton, media relations manager at the NLA, suggested that more than 3,000 of the 1.4 million landlords in the UK were letting property on mortgages which are "not strictly buy-to-let".

However, he stated that many of these cases were unlikely to come to light unless the landlord faced financial difficulties, leading him to prompt landlords to take initiative in ensuring they are operating legally.

Mr Hilton said: "All we would say to landlords of all calibres is to make sure you are fully up to speed with the legal framework in which you let the property."

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