Insurance 'can guarantee mortgage payments are made'
Property professionals
13th October 2008
Having an adequate insurance policy could be one way in which landlords can protect themselves against mortgage payments they cannot afford, it has been claimed.
According to Property Secrets, mortgage payments are often jeopardised by bad tenants who fail to pay their rent on time.
It can often be difficult, as a result of this, to make sure funds are available to pay off the mortgage, make necessary repairs to the property or meet other contractual expenses, the website said.
In similar news, a landlord has been prosecuted under the Forgery and Counterfeit Act after forging his tenants' signatures.
The Cornish Guardian reported recently that Paul Woolcock, the owner of Arica House apartments, admitted to opening five letters addressed to his tenants living in his properties and forging signatures on four housing benefit cheques.
He said: "I went the wrong way about getting my rent money."
