ALMOST a third of UK renters fear they will never be able to own a home of their own, according to a recent study.

Overall, 31 per cent do not feel they will be able to buy and 21 per cent think the removal of mortgage interest tax relief on buy-to-let properties, which was introduced in April, will reduce the supply of rented properties in their vicinity.

Many also fear they will face rent hikes, as buy-to-let landlords pass on the higher costs.

A further six per cent said that their landlord had already, or will, increase the rent as a direct result of the tax changes.

The research report from GoCompare Mortgages found that affordability and access to mortgage loans are the key reasons why many Brits rent. Half of those surveyed live in rented accommodation because they cannot afford their own home.

Matt Sanders from GoCompare Mortgages, said: “April saw profound changes to the taxation of buy to let properties which will reduce landlords’ profits and our survey suggests that there is a real concern among tenants that to protect their profits, over time some landlords will increase rents.

“Our research reveals that half of all tenants are in rental accommodation because they can’t afford to buy their own home. It now looks like many have given up all hope of ever owning a home and, for some, the changes to buy to let regulations are likely to make renting more expensive. In turn, that makes saving for a mortgage even harder.”