A leading Buy-to-let lender is fully supporting the government's plans to legislate new longer term tenancies with its launch of a new style model tenancy agreement.

In line with the government's proposal, the lender is now allowing landlord clients to be able to offer tenancies of up to three years.

Across the UK ,the private rented sector provides homes for one fifth of households that have dependent children.

A spokesman for the buy-to-let lender, said: “The PRS is the fastest growing sector in the housing market and an increasing number of families rely on it for their home. At the same time many tenants continue to value the flexibility and choice the PRS delivers. This is why we welcome the Housing Minister’s approach in the new model tenancy agreement, it recognises that some PRS tenants will still require that flexibility, but others need greater security.

“We have 50,000 landlord customers and have consistently taken a leading role in developing socially responsible lending policies in buy-to-let and already encourage our landlords to make their properties available to people on local authority housing lists through public sector leases of up to five years.

“Families undoubtedly need more stability and peace of mind though, and with that in mind we have made changes to our own lending criteria and will now accept 36-month tenancies, allowing landlords to offer even greater flexibility where this new model lease is used.”

Housing minister Brandon Lewis is delighted that the buy-to-let lender has changed its criteria for their landlord clients and said: “All tenants and landlords deserve flexibility and choice.....

 

“They support the work we are doing to build a bigger and better private rented sector and offer families the security and stability they deserve.”