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Last week, the Council of Mortgage Lenders said that 1.58% of buy to let loans, were in arrears at the end of September, up from 1.1% just three months before.

But that does not have to mean that buy to let landlords have to fear repossession – if you are in financial difficulty there are options for those with rental accommodation.

According to Ministry of Justice data, courts made 16,851 orders to repossess property from landlords in the three months to September – this number may have been smaller if the landlord used a receiver of rent.

A receiver of rent is an independent, court appointed representative you call on who comes in to manage your property. Because you have paying tenants in the home, there is still the potential to have income and to pay your mortgage. The receiver takes all the money and makes sure the mortgage is met.

In 2007, the Council of Mortgage Lenders also proved that a receiver of rent could lower the odds of the property ending up repossessed – something the landlord and the mortgage lender would always choose.

This means your property remains safe in the short-term, and also your tenant stays in their home. Arrears can be tough to handle, but taking decisive action as soon as problems arise could maybe help save your investment and will definitely avoid leaving innocent people out in the cold.

To keep up with the latest News and comment on the UK buy to let market visit the Buy to Let Mortgage Blog