One-third of private tenants say they are struggling to afford their rent, according to new polling data commissioned by real estate investment firm Castleforge.

The survey of 4,000 UK adults exposes the difficulties faced by those in the private rented sector, with the cost and poor quality of housing. Rising mortgage rates have made renters feel vulnerable to their landlord’s personal financial situation, with 32% agreeing that their rent or tenancy had been affected. 

Meanwhile more than two in five (42%) renters say their home needs to be refurbished to be comfortable. Almost a third (31%) have lived in poor quality or unsafe rentals in the last five years. 

Londoners are most exposed to unsafe conditions, with 55% of private tenants agreeing their rental home needs renovations and 41% saying they have lived in poor quality or unsafe rentals in the last five years.  

Michael Kovacs, founding partner at Castleforge, said: “The housing and cost of living crisis in the UK has significantly exacerbated the issues faced by private renters. 

“Private landlords that own one or two homes are being buffeted by mortgage rates, and their own financial insecurity is then passed on to tenants. Too many renters are finding themselves having to move or having to put up with delays to vital renovations.”