Will only get worse. Mortgage rates rising will be passed onto renters.
Lets build an economy around housing being profitable for owners instead of readily accessible to all. That’s a good idea isn’t it?
/s
House Prices Falling = Rents Rising
also
House Prices Rising = Rents Rising
In my area we moved from 2 bedroom average of £700 to around £1000.
Few are in between but still.
That’s because the landlord’s SOLE source of income is rent.
Which means people renting will pay the inflation TWICE!
This is wildly accepted and supported by the government for allowing outrageous things like Interest Only mortgages where the rich can keep his current property for another 20yrs when buying a new one.
The laws are tailored for the rich and we’ll never get a sustainable economy until we change that.
> dont pay the rent
> landlord has no money to pay for mortgage
> landlord forecloses on property
Don’t Pay UK, are you writing down notes?
Mortgage rates rise, small landlords raise rents to stop repossession, ‘so sell the property then’, the only buyers are cash buyers because no one can get mortgage approval, the cash buyers offers are low so landlord would lose money if they sell.
Don’t care? okay, they go through with the sale… The new owner is a vulture fund which raises the rent by even more!
The vulture funds are here and they don’t give a fuck, the property you rented for £600, they want £1000 for, can’t pay ‘fuck off’, ‘well then the property will be empty’, ‘don’t care, can leave it empty till someone is willing or desperate enough to pay what they want’.
Not heard of a vulture fund, read up on the housing crisis in Dublin.
Decades of under-building because of the Town and County Planning Act… who could have foreseen this
>landlords, who face their own squeeze from higher mortgage rates
ooh look, maybe that’s a clue. A system where some can borrow money to make money from others is not necessarily going to be fair.
I’ve been window shopping shared house rentals for spending summer back in the UK and, while I appreciate it’s not the best time of year, *fuck me*. Even for shares London is absolutely savage, but I looked at Sheffield too and 😓
The one bit of comic relief was some joker asking £1,500 exc. bills for a Kelham Island studio, but perhaps some naive/rich foreign student will take them up on it.
I’ll probably just hang out with my parents. They’re (thankfully, I’m very lucky) nice.
Landlord has requested a £600 increase in my rent for a 1bed in zone2 London 🙂 🙂
How does this end? Will we be seeing a mass homelessness crisis like in San Francisco or LA?
Is there going to be a “skid row” equivalent in each major city?
If I can show a bank that I’ve been able to pay my rent for the last 5 years without any missed payments, and I am a first time buyer, the bank should be legally required to give me a mortgage at or below the rate I’m currently renting at.
It would help millions of first time buyers on low incomes who can’t afford to save up 5-figure deposits to get onto the property ladder.
We also need legislation which heavily disincentivises landlords to own more than 3 properties. It’s ridiculous that you can take a house and leverage it to get another, and another, and another, all while having the tenants pay them off for you.
Just make buying a house accessible ffs.
I get £900 every month if my rent goes up am fucked truely.
Council Houses, blocks of them, were being built in the 50’s, 60’s and 70’s.
By the late 1970’s 1/3 of the UK population lives in social housing.
Since Margret Thatcher came in. There has been a steady decline.
What you’re seeing today is not an accident.
It’s the government not looking after the people. Making no efforts to build social housing.
Rather, the government support private landlords.
Even when they provide housing benefit, they are giving tax payer money to private landlords.
This issue is not going away.
And if you continue to vote the tories in, you will continue to have this problem.
It will get worse.
Private rental should not be a thing.
It is not right that someone can buy a house with a bank’s money, then have someone with less money live there, with a series of ridiculous rules, then expect them to pay off their debt for the privilege.
Houses should be homes. Not assets.
It’s really simple the government is trying to force small landlords out if business, they are selling their houses, less houses to rent: rents go up, supply and demand 101. This is what people on here wanted. You got it, now enjoy the fruits.
Hardly surprising. Most Minister’s seem to have rental property portfolios. It’s in their interests to actively promote rent increase’s, just as it’s in their interest’s to keep the working classes pinned down…
Living in London and the landlord put up the rent 20%. Going to have to suck it up as a lot of rentals were sold during covid and the stock in London is being squeezed by people moving back to london, the horror stories about 30 people applying for one crappy flat are true.
In London- landlords are dropping rents to get tenants- affordability will be an important factor. Over leveraged landlords desperate to cover interest rate rises.
I think we’re rapidly approaching breaking point but we won’t be able to do anything about it. You won’t be able to strike, you won’t be able to protest…
How can we be in a cost of living crisis, and people being absolutely broke, but rents also rising to their highest rates?
Living in a van and stealing from the rich is starting to look like a viable option.
Housing scalpers outstripping inflation to keep up with inflation on mortgages. What a fine mess.
I’m doing a graduate medicine degree, basically a medical degree after you’ve already god a degree.
Funding is really weird so I won’t go into detail except that everyone has to pay roughly £3,200 out of pocket just to attend first year, but I digress. My loans are getting cut by 2.5k next year, and it will remain that until I finish my degree in 3 years.
So, as of September, I will have to survive on less than 6.5k a year. This includes food, transport, clothes, phone and of course rent for 11 months; we get fewer holidays because of early clinical/hospital teaching, typically university courses run for 44 weeks, graduate medicine is 46-ish.
Rent in the area where I study is roughly £475 a month for one room in a 6-bedroom shared house. There’s £5,255 gone, so I’ll have just under £1,300 pound to survive on.
If rent goes up anymore, I genuinely don’t know what I’ll do. Either is work and risk my learning, or I don’t work and risk having to somehow juggle studying and coping with poverty.
It’s scary.
London is fucking mental for this shit, I’m going to have to just leave if it gets any worse
WELL NO FUCKING SHIT I’M PAYING OUT MY ASS FOR A FUNDAMENTAL PART OF LIFE
27 comments
Will only get worse. Mortgage rates rising will be passed onto renters.
Lets build an economy around housing being profitable for owners instead of readily accessible to all. That’s a good idea isn’t it?
/s
House Prices Falling = Rents Rising
also
House Prices Rising = Rents Rising
In my area we moved from 2 bedroom average of £700 to around £1000.
Few are in between but still.
That’s because the landlord’s SOLE source of income is rent.
Which means people renting will pay the inflation TWICE!
This is wildly accepted and supported by the government for allowing outrageous things like Interest Only mortgages where the rich can keep his current property for another 20yrs when buying a new one.
The laws are tailored for the rich and we’ll never get a sustainable economy until we change that.
> dont pay the rent
> landlord has no money to pay for mortgage
> landlord forecloses on property
Don’t Pay UK, are you writing down notes?
Mortgage rates rise, small landlords raise rents to stop repossession, ‘so sell the property then’, the only buyers are cash buyers because no one can get mortgage approval, the cash buyers offers are low so landlord would lose money if they sell.
Don’t care? okay, they go through with the sale… The new owner is a vulture fund which raises the rent by even more!
The vulture funds are here and they don’t give a fuck, the property you rented for £600, they want £1000 for, can’t pay ‘fuck off’, ‘well then the property will be empty’, ‘don’t care, can leave it empty till someone is willing or desperate enough to pay what they want’.
Not heard of a vulture fund, read up on the housing crisis in Dublin.
Decades of under-building because of the Town and County Planning Act… who could have foreseen this
>landlords, who face their own squeeze from higher mortgage rates
ooh look, maybe that’s a clue. A system where some can borrow money to make money from others is not necessarily going to be fair.
I’ve been window shopping shared house rentals for spending summer back in the UK and, while I appreciate it’s not the best time of year, *fuck me*. Even for shares London is absolutely savage, but I looked at Sheffield too and 😓
The one bit of comic relief was some joker asking £1,500 exc. bills for a Kelham Island studio, but perhaps some naive/rich foreign student will take them up on it.
I’ll probably just hang out with my parents. They’re (thankfully, I’m very lucky) nice.
Landlord has requested a £600 increase in my rent for a 1bed in zone2 London 🙂 🙂
How does this end? Will we be seeing a mass homelessness crisis like in San Francisco or LA?
Is there going to be a “skid row” equivalent in each major city?
If I can show a bank that I’ve been able to pay my rent for the last 5 years without any missed payments, and I am a first time buyer, the bank should be legally required to give me a mortgage at or below the rate I’m currently renting at.
It would help millions of first time buyers on low incomes who can’t afford to save up 5-figure deposits to get onto the property ladder.
We also need legislation which heavily disincentivises landlords to own more than 3 properties. It’s ridiculous that you can take a house and leverage it to get another, and another, and another, all while having the tenants pay them off for you.
Just make buying a house accessible ffs.
I get £900 every month if my rent goes up am fucked truely.
Council Houses, blocks of them, were being built in the 50’s, 60’s and 70’s.
By the late 1970’s 1/3 of the UK population lives in social housing.
Since Margret Thatcher came in. There has been a steady decline.
What you’re seeing today is not an accident.
It’s the government not looking after the people. Making no efforts to build social housing.
Rather, the government support private landlords.
Even when they provide housing benefit, they are giving tax payer money to private landlords.
This issue is not going away.
And if you continue to vote the tories in, you will continue to have this problem.
It will get worse.
Private rental should not be a thing.
It is not right that someone can buy a house with a bank’s money, then have someone with less money live there, with a series of ridiculous rules, then expect them to pay off their debt for the privilege.
Houses should be homes. Not assets.
It’s really simple the government is trying to force small landlords out if business, they are selling their houses, less houses to rent: rents go up, supply and demand 101. This is what people on here wanted. You got it, now enjoy the fruits.
Hardly surprising. Most Minister’s seem to have rental property portfolios. It’s in their interests to actively promote rent increase’s, just as it’s in their interest’s to keep the working classes pinned down…
Living in London and the landlord put up the rent 20%. Going to have to suck it up as a lot of rentals were sold during covid and the stock in London is being squeezed by people moving back to london, the horror stories about 30 people applying for one crappy flat are true.
In London- landlords are dropping rents to get tenants- affordability will be an important factor. Over leveraged landlords desperate to cover interest rate rises.
https://www.telegraph.co.uk/property/buy-to-let/london-landlords-forced-cut-rents-tenants-priced/
I think we’re rapidly approaching breaking point but we won’t be able to do anything about it. You won’t be able to strike, you won’t be able to protest…
How can we be in a cost of living crisis, and people being absolutely broke, but rents also rising to their highest rates?
Living in a van and stealing from the rich is starting to look like a viable option.
Housing scalpers outstripping inflation to keep up with inflation on mortgages. What a fine mess.
I’m doing a graduate medicine degree, basically a medical degree after you’ve already god a degree.
Funding is really weird so I won’t go into detail except that everyone has to pay roughly £3,200 out of pocket just to attend first year, but I digress. My loans are getting cut by 2.5k next year, and it will remain that until I finish my degree in 3 years.
So, as of September, I will have to survive on less than 6.5k a year. This includes food, transport, clothes, phone and of course rent for 11 months; we get fewer holidays because of early clinical/hospital teaching, typically university courses run for 44 weeks, graduate medicine is 46-ish.
Rent in the area where I study is roughly £475 a month for one room in a 6-bedroom shared house. There’s £5,255 gone, so I’ll have just under £1,300 pound to survive on.
If rent goes up anymore, I genuinely don’t know what I’ll do. Either is work and risk my learning, or I don’t work and risk having to somehow juggle studying and coping with poverty.
It’s scary.
London is fucking mental for this shit, I’m going to have to just leave if it gets any worse
WELL NO FUCKING SHIT I’M PAYING OUT MY ASS FOR A FUNDAMENTAL PART OF LIFE