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The Mortgage Works (TMW), Nationwide’s buy-to-let lending subsidiary, has just announced that it is to stop lending to landlords who have tenants receiving housing benefits.
With TMW having a market share of around 20% this could come as a blow to many people who may now struggle to find a place to live. There are around 3.8 million households in private rented accomodation, 26% of which (982,000) are receiving housing benefits.
Source: Money Marketing