Sunday, April 3, 2011
Some landlords are no longer willing to let properties to people on housing benefits as new lower rates take effect. The government says they do not expect many landlords to leave the housing benefit market. But landlords say they could suffer if interest rates and mortgage payments go up as income from rent falls. Colin Bryan, a Sheffield-based landlord, who rents 35 properties to benefit recipients told the BBC that "the sums no longer add up." "If we don't do something now, in 18 months time I am likely to be bankrupt because we can't afford to continue with the cuts that are coming," he said. The changes are expected to create most problems in London. Camden council says it will no longer place any housing benefit recipient in central London.