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Majority of letters with no exposure to rising interest rates are demanding more money in new tenancy agreements

More than two-thirds of mortgage-free landlords raised the cost of new rental agreements in the last year despite being unaffected by interest rate rises, according to research on alleged “cashing in”.

The practice has triggered windfalls for hundreds of thousands of investors at a time when tenants are paying more despite shrinking amounts of space in flats and houses.

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