To think that renters have put up with big monthly rises for years

[Upthebracket22]

We rent because we have been priced out of the housing market for years & years. We have raised our kids in a rented house & put up with large rises in monthly payments. We’ve been ‘lucky’ in that we’ve been on our current house for 10 years.

Noone has given a flying fuck about renters & the amount we pay & have had to find extra each year but now it’s mortgages going up, it’s all ‘poor mortgage holders’ - it’s really grating on me.

As it goes, the coming housing downturn will mean we actually might be able to buy a house. Safe secure affordable housing is a good thing.

the current housing boom has been created by cheap money and that era is ending. An entire generation of people have been priced out of a safe home & while I don’t want to people in difficulty, renters have had to put up with it for years ‘move to a cheaper area’ being the main nonsense.

We are a normal family with good jobs but saving for a deposit has been impossible because of insanely high rents.

i am tired of the ‘poor mortgage holder’ rhetoric when those of us trapped in rented homes have put up with large monthly hikes for years.

i know this won’t be a popular view on here but for us renters, the last decade had been difficult and no one has given a shit.

Agree that it is mainly about choices. People who aren't happy with their situation always have to blame anyone but themselves. It's much more convenient. They are the poor victims...of their own decisions. That attitude of 'poor me' 'I can't' doesn't help anyone.

Oh yes, we decided to buy right before the 2008 crash. Silly us for not having a crystal ball or a psychic on tap. And silly me for having the temerity to get in the way of a driver using their mobile while driving and thus running me over and leaving me for dead. It’s all my fault of course it is.

But then this means the interest rises on mortgages is currently a result of choices too then? So why is the “poor me” narrative allowed for mortgage holders now?

When we first saved a deposit we made so many sacrifices, had no family help. It felt impossible but we got there in the end.

Yes, so did we. We lived in a caravan for five years to save to our deposit. Also had no family help at all.

No need to apologise. I am happy to be there as proof of your reply to them.

Totally agree. It’s unfair that renters are allowed to be charged way over landlords mortgage repayments.

i rent a property out, no rent increase in 4 years as it already covers my repayments so I’m happy. The tenants are happy with affordable housing and take great care of it.

People really underestimate the privilege of good health & how an accident or illness can destroy finances.

But then this means the interest rises on mortgages is currently a result of choices too then? So why is the “poor me” narrative allowed for mortgage holders now?

tbf you have a point there

Oh come on this is quite a dramatic post though. It’s annoying when people exaggerate to the point that it actually weakens the argument.
Is London expensive? Yes? Is it one of the hardest place for young people to buy? By a long shot!
But you are making it seem that it commonly costs £1700 for a room. It doesn’t. The ad is for 2 people to share a 3 bedroom 2 bathroom home, in BEAUVOIR of all places! No one ‘needs’ to rent with an NW1 postcode, of course it’s going to be expensive.
£3.4k is a totally reasonable rent for a 3 bed in that are, in fact it’s probably bordering on cheap.
All it takes is a few stops in the tube or overground still very much in London and that cost drops dramatically. And you live in London so you should know that.

Renting in Chelsea is hardly going to be the same as Camberwell.

Completely. As well as having been brought up to be financially literate

@Discovereads im really sorry about your accident. That’s beyond shit

So many landlords saying blame the government.
But So many landlords have increased rents year on year yet have had really low interest rates on mortgages.

Lets not pretend that every year has required a rent increase.
and lets not pretend that you are renting out of the goodness of your heart.

Its a business as as such LLs should be required to meet a minimum standard of quality. Far too many get away with renting poor quality accommodation even going so far as to trash the insides of houses for HMOs.

I have rented for years and have had some very good LLs but many should have the run down slums that they rent taken off them and they should be taken to court. I reiterate that I have had some very good LLs including HMO.

I also think that if you have a proven record of rent paying without missing a payment you should be able to get a 100% mortgage. As if I had been able to do this I could have bought much much sooner.

Oh that old chestnut, just get a job locally in some commuter town

I trained and worked for years to get my job in London, I love it and I'm good at it, and unfortunately it is not transferrable

You can say 'well that's your choice, suck it up' but my salary now actually would have been enough to buy even a couple years ago, so it wasn't absurd for me to pursue that career originally. I don't think anyone expected 15 years ago (when I started training) that prices would be what they are now.

Of course I am pursuing promotions but my sector had massive cuts during covid and isn't coming back yet

Not read all the comments but I find your points rather hyperbolic.

I rented for years too before I got a mortgage. At no point did I find my rent raised every month as you’ve said. Once every 3-4 years was average and not by much at all.

I agree to some extent. I have a mortgage - got it when the rates were high last time around - but have benefited the last 15 years.

Controlled rents in Europe can be a crazy trap though; you can't move because your current rent is such good value.

Getting a 'commuter-town job' is what some people have to do though.

We had to move out of London to buy and I moved jobs as the cost of two train fares would have been more than our mortgage 😳

My job was also sadly not-transferable, though I managed to get one in a similar field, albeit at a lower grade. A promotion later, I'm at the same grade again, though slightly lower paid. Probably has hindered my overall career progression...

Plus DH & I are both Londoners & 2nd gen immigrants so didn't really want to leave everything we knew & all family. You hear about locals priced out of Cornwall etc but no one thinks about Londoners. Good point @toulet

No it's £1.7k for the room the girl clarified in the comments. Go check out spare room, rooms are increasingly costing over £900 a month for rent

It’s impossible to know if you’re being unreasonable without knowing why you are still renting. How old are you and how old are your children? If you had your children when you were young before securing a mortgage then it’s not really anyone’s fault but your own. If you rented with a boyfriend instead of living at home ( if you could) and saving as much as you could then that was your decision. If you rented alone when you could have rented a room in a shared home then that was your decision.
Before you blame the market for your situation you need to look at the decisions which have led to your current position.

If you had your children when you were young before securing a mortgage then it’s not really anyone’s fault but your own.

Are you suggesting only people wealthy enough to have their own home at a young age should have children? Classist much?

If you rented with a boyfriend instead of living at home ( if you could)

The if you could, is pretty important. Maybe in your middle class world people can take care of their adult children, that’s not reality for lots of people.

If you rented alone when you could have rented a room in a shared home then that was your decision.

I don’t know anyone who rented a home alone at any age, most renters are in shared homes. I certainly never rented alone.

Before you blame the market for your situation you need to look at the decisions which have led to your current position.

Did you read the thread? Keep up with the actual state of the market at all? There have been many valid reasons given. Are you genuinely completely unaware of the realities of life? That mortgages are a higher percentage of peoples income and deposits are much much higher? You just thought you’d pop by to be a patronising condescending pest implying renters just make bad decisions?

You just thought you’d pop by to be a patronising condescending pest implying renters just make bad decisions?

isnt that just Mumsnet where everyone is considerably richer than everyone else? I said on this thread I was lucky enough to buy in 96/97 and still someone asked why I wanted a 3 bed house. Buying and selling is expensive so it makes sense to buy a 2 or 3 bed house if you can. Here in the southeast town that I live a neighbour house untouched since the 70’s sold for £400k. Not many people earn enough for the multiple. Especially first time buyers. But maybe they should just look harder for a job paying &150k plus as that’s all that’s holding them back laziness!!! (Sarcasm)

The world I fell pregnant in is a million miles from the world we are in now.
under No circumstances would I have dreamed housing would be the way it is now.

@MrsMinted “Controlled rents in Europe can be a crazy trap though; you can't move because your current rent is such good value.”

That’s not a trap, that’s a choice 🤣

It’s not the past decade: it’s the last two. For many, it’s been a problem for our entire working lives. Some of us haven’t long got on the housing ladder, have made sacrifices to do it, and now face losses. I can even manage to feel some empathy for the useful poor idiots of the rich middle classes who have enabled this system by buying up the over-priced show-homes with 6 bedrooms and en-suites or whatever. I actually voted Yanbu because I know what you mean, but this system has been going on for so long that the only winners are baby boomer and early gen-X landlords.

If you can pay private rental you can afford mortgages, the banks need to change policies on lenders, if someone can provide proof of reliable payments then they should be made to lend. Deposit should be minimal in the case of renters looking for mortgage. Payment of large rent reduces amount they are able to save.

Ideally though there would be a cap on private rents and a mass social housing build to provide secure housing for all who need it. Private rental then would be left for those whose circumstances require it and to sensibly priced.

DH privately rented in 1970, from a couple who inherited a house but already had a house, they didn't want to sell as they were keeping for their own children until they grew up. He rented for about 2/3rds of council rent for similar houses. It was purely to keep house in order and not neglected until they needed it.

If you can pay private rental you can afford mortgages, the banks need to change policies on lenders, if someone can provide proof of reliable payments then they should be made to lend. Deposit should be minimal in the case of renters looking for mortgage. Payment of large rent reduces amount they are able to save.

Yes, renters can afford mortgage payments but can’t afford the deposit. I don’t think lending more helps though, then you get people overextended and borrowing too much. House prices just have to come down, there’s no other way around it. Supply is the biggest issue there, we need more homes built. The planning laws should change ASAP, including crap like overage for land. The most disgusting greedy thing I’ve ever heard of. Imagine if they did that with houses? Oh if you do it up and increase the value you have to give previous owners a percentage of the uplift! Seriously there’s so much to change.

I had a miserable childhood and quite frankly couldn't wait to escape the family home. Staying there was not an option. My partner was sharing a room with a sibling so staying there wasn't an option either. We had no choice but to start renting privately at 18 years old. Even both of us working full time we could not save for a deposit. We've had no leg ups, no hand outs. Our families are working class, have no assets and no money to help us.

If we were able to get a council home (like our parents did) we would've paid a fraction of the rent and would've been able to save up for a deposit.

Paul McCartney- sharing a room is hardly a reason to have to move out at 18? You wanted to live together in your own place . That’s fine! That was your decision to make. He could have stayed at home and saved and you could have shared a house with flatmates and saved. Many people had second jobs to save for a deposit. There is always a way if you want it badly enough.

@paulmccartneysbagel similar story to me and DH, both left home young due to abusive families and not being allowed there, no help, nothing given even like a mattress or cutlery, no inheritances ever and student loans on top to pay off. We have been very sensible all our lives, no car until a year ago, very little travel, charity shop clothing which I don’t mind, very frugal day to day cooking everything from scratch, sometimes in London I had 3 jobs!! and only now nearing 50 we have a deposit. Many will never get the chance. The audacity of people here saying if we all made different choices we’d have homes. It’s a load of shit. It’s not reality.