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.

But the crazy mortgage rates don't just affect 'evil landlords'. I too rented till I was in my late thirties. Years and years of the bullshit you describe. No parental help, no living somewhere for free, no lottery wins. Seemed impossible to buy. I worked two jobs for years, I haven't bought new clothes (charity shop only) for years, I've had one holiday in the last ten years. Ultimately I moved four hours away from where I was living and uprooted everything to finally have the security of my own home. Finally managed to buy my first ever home last year. And I am now utterly terrified of losing it. Do you think I deserve this?

This.

Fair enough thinking you're happy enough to have children whilst still renting, but you then can't complain about the repercussions of that decision.

Interesting point of view. It's what's happening in the US with Blackstone and it's coming here in the UK. Mom and Pop Landlords are being priced out.

However, it can also cause the house prices to go up for average house buyers.

I agree.
Renting is shit.

I think you’re a bit silly to think that there will be a big housing downturn, especially not one large enough that those unable to buy at all will now be able to get on the ladder.

Mine did. 40% in one month. It wasn’t because of repair costs (we’d retiled and refunded when they fell, we’d replastered when the damp caused it to fall off the walls, we’d fixed the roof, the hot water tank, the shower), it wasn’t mortgage costs. It was because the area had jumped that much within that year, so instead of being reasonable about it and putting it up a small jump to keep it somewhere in line. They didn’t. They went for the top price an estate agent gave.

I am extremely lucky that my landlord is great. He moved abroad with his family and rents us his house - we've been here for 4 years with no rent increases, and as long as we treat the house as our home, we are allowed pets and have since had children. The rare repair we've needed has happened quickly without question.

Before we lived here, it was a whole other horror story. Still a private rental. No repairs, black mould everywhere (painted over before we moved in, so we didn't know prior to signing), rent increases, caved in ceilings, refusal to put a door on the garage rendering it unusable, and the porch literally detaching from the house leaving large gaps to outside. We formally complained to the council and the estate agents multiple times, but they did nothing. When we finally were able to move out, the landlord refused to give back our deposit because it wasn't clean despite having scrubbed every surface (no kidding, there was mould everywhere and climbing vines growing into the living room from the gaps to outside). We took it to small claims court and eventually got the deposit back with overwhelming evidence that we tried to get the landlord to sort the issues.

Private renting is in shambles. It is so much more expensive than a mortgage 99% of the time and banks never take it into consideration. So disgusting.

Who’d have thought two contraceptions would have failed

And if they are arseholes?

Banks make huge profits out of mortgages.

Just thought I'd throw that out there.

OP are you saying your rent has gone up by a large amount each month or have I misunderstood?

Pretty sure not all renters are doing so because their parents are arseholes.

I get that couples want somewhere to live together but if they want to buy somewhere and don't have loads of money then the sensible thing to do is wait for a while and save.

My first job out of uni was 150 miles away from my parents house. Necessary for the industry I was in. Pretty hefty commute.

Unlike to be the case for the vast majority of people.

Of course there are exceptions but probably the majority of people could stay at home and save.

Wanting to rent somewhere so you can live with a partner or renting somewhere so you can have children is ok but then don't moan that you can't afford to buy

Agree with this point and the reason I moved out as soon as I could...

Still possible to buy when renting though with normal jobs depending on the choices you make.

Ah well luckily I haven’t done that 😊.
However there are many reasons, other than mine, that people can’t stay with their parents as adults. Their parents may not want them, for one.

The government increased costs for landlords so of course rents increased. Blame the government not the landlords.

At the moment I live in an ex council house. I rent it through a housing association. My rent jumped from 582 to 748 this year. The mortgage on the house that I own with my bastard of an ex was 434 and is literally twice the size. The houses to the left and right of me are still council properties and are charged at around 400. I'm paying twice the rent for exactly the same house but worse services. When I expressed my shock at the increase I was told "claim universal credit". That's right taxpayers, we are paying the government taxes so the government can give it back to the landlords. I can't claim universal credit because of the house that I own with bastard ex. He won't sell it, I can't afford to force him. But a computer doesn't understand domestic violence so I have to suck it up. Disgraceful and unfair.

I agree OP in principle.
For years renters have had to put up with 5-10% annual rent increases. Which for us was between £100-£150/mo. Not a peep.

Now I read BBC articles with home owners going all 😨😱 over a £50/mo increase to their mortgage after paying the same monthly amount for years.

A monthly amount that is often half what I pay in rent for the same size property.

It is a bit frustrating that renters have told to suck it up, figure it out for much higher monthly costs for at least a decade but in the past two months alone the news is full of whinging about homeowners finding an extra £50/mo for a mortgage.

Oh, and yes I’ve read the ‘get on the ladder and then have children’ posts as if that’s some magic solution. It isn’t. We did exactly that. Got on the ladder, worked up to a 3 bedroom home and then started having DC. Then the 2008 crash happened. Then I had a horrible accident in 2011. Then we fell off the ladder.

You can fall off the property ladder. Many people do. More than you think. The assumption that every family renting is in the position due to “poor choices” is a profoundly depressing & very Tory view.

@akabluebell
what about when contraception fails?
Should people be forced to abort?
Where do you live while trying to buy a house?

Its not always possible to plan your life and what happens to you.

I fell pregnant when I was 21, was told I had to move out. Not everyone can stay with their parents.

And if they are arseholes?
My parents were not arseholes but I didn't want to live with them so I rented a room as a lodger and after meeting my oh, we rented a small cramped studio in a not nice area but it didn't matter. Our priority was to save as much as we could.

Its not always possible to plan your life and what happens to you
It is for the majority of people. Are you trying to say that almost all those families in rental are so because they had contraception failure? Ludicrous!

You can fall off the property ladder. Many people do. More than you think
You can and when it happens, it's really sad, but these families still account for a minority only.

If there is a house price crash it won't make things easier for the vast majority of first time buyers because lenders will be even more reluctant to issue mortgages, especially to untested first time buyers.

A house price crash will mean that more property ends up being owned by letting businesses who don't care about the quality of their property and their tenants, only how much money they can make.

What we need is a huge house building program but that won't work either because there are too many NIMBYs who think their lovely view is more important that solving the housing crisis in this country.