Property to rent in London 'helps pay mortgages'
Those looking for property to rent in London may find doing so is helping hard-pressed homeowners to pay their mortgages.
With house prices higher than the rest of the UK, those who do buy face large costs and a survey by Spareroom.co.uk has found the capital to be the most prominent part of the country for the letting of rooms in homes to be shared with owner-occupiers, the Evening Standard reports.
And this could grow further in 2011, director of lettings agency ludlowthompson.com Stephen Ludlow told the paper.
He said: "If London sees a lot of redundancies in 2011, getting a lodger could be even more popular than last year."
The news comes at a time when the overall demand for rental property has been tipped to rise.
A survey by Paragon Mortgages found 45 per cent of landlords believe more people will want to rent in 2011 than in 2010.
By Andy Britten
Published 5th January, 2011
© 2011 Estates IT Limited
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