Protests planned by tenants’ groups for many Santander bank branches over the past weekend turned instead into celebrations after the institution agreed to drop a controversial clause in its buy to let mortgage contracts.
Letting Agent Today reported earlier this month that there was growing concern over a clause in existing contracts effectively urging landlords to increase rents “as much as can be reasonably achieved” to cover mortgage payments and other costs.
Now - after a flurry of media publicity by campaigners against the clause - the bank says it will drop the reference from all future Santander buy-to-let contracts, although it will remain in existing contracts.
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