UK tenants don’t have much faith in private rented sector

People renting a home in the UK feel that not enough is being done to help them onto the housing ladder with those in London forced to rent because of the high price of property, new research suggests.

Some 67% of UK adults, 34.4 million people, feel the Government is out of touch with the wants and needs of tenants and 49% in London can find a better home to rent than they could afford to buy.

Overall nationwide some 39% choose to rent so they can live in a nicer property than they could have any chance of buying, according to a survey by virtual letting agency LetBritain.

Some 42% in London are prepared to buy a cheaper property in another part of the country so they can get on the housing ladder and then let it out while renting in the capital.

The survey also found that 64% believe that it is going to become even more difficult for private rented sector tenants in the coming years.

‘With more and more people across the UK coming to rely on the private rental sector, the research is concerning. Whilst many renters are working hard to enter the property market, they clearly do not feel the Government understands the issues faced by tenants,’ said Fareed Nabir, chief executive officer of LetBritain.

‘Interestingly, the findings show that renters are now increasingly looking to buy properties outside of their chosen place of residence so they can still get onto the property ladder without having to sacrifice the location or quality of the property they wish to live in,’ he added.

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Written by: Houseladder