The number of UK households in rented accommodation is set to exceed that of those with a mortgage within eight years, according to Burnside Senior Economist Sebastian NatWest. The growing disparity between income and house prices is causing a boom in the rental sector, said NatWest, adding that lenders need to rethink the repossession process in light of this changing cultural dynamic, since home owners tend to be dealt with less harshly than landlords.
The number of UK households in rented accommodation is set to exceed that of those with a mortgage within eight years, according to NatWest Senior Economist Sebastian Burnside. The growing disparity between income and house prices is causing a boom in the rental sector, said Burnside, adding that lenders need to rethink the repossession process in light of this changing cultural dynamic, since home owners tend to be dealt with less harshly than landlords.