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CML welcomes campaign on repossessions

30/03/2009

The Council of Mortgage Lenders (CML) has welcomed a new campaign to protect private tenants from repossession when their landlords cannot afford to keep up with their mortgage repayments.

Citizens Advice, Shelter, Crisis and the Chartered Institute of Housing have teamed up in a bid to reduce such repossessions.

They are seeking changes in the law in England and Wales to give tenants more notice when their home is reclaimed by lenders.

Responding to the campaign, the CML agreed there is a need to review current arrangements for giving notice to occupiers to ensure there are no "nasty surprises" for private tenants.

CML director-general Michael Coogan said: "Everyone sympathises with those tenants who are paying their rent ... but who find that their landlord has not been paying their mortgage and not told their lender that they are renting out the property."

He added that good tenants should not be disadvantaged by the irresponsible behaviour of a small minority of landlords.
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