High rent could require debt solutions

The average rent for a British house has reached its highest level in two years, which may force people to seek debt solutions in order to pay what they owe.

LSL Property Services indicate that a mixture of landlords looking to sell up and more tenants looking to rent rather than buy has caused the increase, which was 1.4 per cent in August.

The firm's estate agency managing director David Newnes remarks that "people are wary of a crash in house prices and concerned over the effect of government cuts on their own ability to meet long-term financial commitments."

The research shows that the average monthly rent is getting close to £700 (£686), which may drive many homeowners with financial problems over the edge and cause them to get some debt help.

Director of Atlantic Financial Management, Kevin Still says, "Paying your rent, council tax and utility bills should be a priority.

If you are struggling and have unsecured debts as well then it may be in your best interests to seek debt advice and possible a managed debt solution.

We make provision for rent arrears to be cleared as part of our debt solution set-up."

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