Personal Finance

Homeowners 'could be forced to let'

Many people could be forced to sublet their property and downsize due to a double dip recession, a new poll has shown.

A survey of 1,000 people by finance firm More Th>n found that nearly half of the homeowners in the UK could become "reluctant landlords" in a bid to retain their houses.

One in 10 people said they would have to lease their property in the case of another housing slump - rising to one in seven in London.

However the poll found that most of those who were considering letting their house out had little knowledge about landlord insurance.

Mike Bowman, head of More Th>n business, said: "There are numerous potential pitfalls when it comes to letting a property - it's not as simple as finding a tenant and sitting back waiting for the rent to come in."

Sam Jackson

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