Grainger, the UK’s largest quoted residential landlord, must sell another £31m of assets to avoid breaching banking covenants.

The group’s sales, and near completed sales, totalled £58.9m in the four months to January 31 and the firm is 'confident' it will avoid failing covenant tests in September.

Grainger reported an increase in the number of property viewings in January, echoing data from the Halifax which showed a 1.9% rise in house prices last month, but said deals were being frustrated or delayed by a lack of mortgage availability.

Daily Telegraph, The Times