Renters getting shafted yet again

[Upthebracket22]

I know this might be just noise but Ed Davey is proposing that mortgage holders get £300 a month grants!

www.theguardian.com/politics/2022/nov/06/lib-dem-leader-ed-davey-proposes-300-a-month-mortgage-grants

I mean WTF? What about private renters who get shafted by landlords with huge annual rent rises! Do renters get a £300 a month grant?

Absolutely fucking shocking to be honest! (And clearly not really viable as it will feed even more into inflation)

Hahahaaa well "typical" again failing to account for regional differences and stitching up those in more expensive areas yet again then, who already fund not only higher living costs but also everyone else in cheaper places to have more cash back on top.

But whatever. Like I said. It is a policy from a party not in Government and who will not realistically be in Government so why so het up about it?

“Stitching up those in more expensive areas”
Forgive me, but I don’t think anyone sitting in a £600k home whose mortgage might go up by £305/mo such that a £300/mo handout from the government doesn’t quite cover an increase is being “stitched up” by having to find a fiver a month.

Especially since 1 in 3 renters have already been expected to shell out rent increases of more than £100/mo. Where 1 in 3 renters already have to pay at least 50% of take home pay on rent. All with zero help from the government.

To answer your question, Im angered by this because it’s tone deaf and insulting. It’s a suggestion that will only further increase wealth and income inequality between the haves and have nots. It’s taking renters tax payments and giving them to homeowners to help them keep the most valuable asset most people will ever hope to own and then be able to pass that wealth on to their children. It’s a reverse Robin Hood that offers no help to renters at all for spiralling rents (also caused by the government) when objectively, the cost of living crisis is hitting renters harder than homeowners.

Your comment shows that you have absolutely no idea. Many people's mortgages are increasing by £1000+ per month.

Fucking hell. Reverse Robin Hood? People who have mortgages are not rich. In a society everyone is meant to get help when they need it. You can't have it both ways.

And as stated this is not Government policy and never likely to be so it's rather baffling why you're so furious at the mere suggestion that people who live in partially owned houses might require a tiny bit of help in an imaginary universe where the Lib Dems were running the country. Although if they had been running the country we probably would not be in the kind of mess where that was even needed, because we wouldn't have had Brexit.

It’s based on the figures linked by the OP:
www.theguardian.com/politics/2022/nov/06/lib-dem-leader-ed-davey-proposes-300-a-month-mortgage-grants
The party pointed to figures suggesting that the average two-year fixed rate has risen from 4.24% at the beginning of September to 6.55% now, adding an estimated £1,800 to a typical household’s annual mortgage bill by the end of 2023. 🤷‍♀️

£1,800/yr= £150/mo.

If some peoples’ mortgages are going up £1000/mo they would have a much larger mortgage loan than average, and therefore a home worth well above the average as well. Nothing to stop them from remortgaging and adding years onto the term to amortise out the debt further and reduce the monthly payment.

If some peoples’ mortgages are going up £1000/mo they would have a much larger mortgage loan than average, and therefore a home worth well above the average as well. Nothing to stop them from remortgaging and adding years onto the term to amortise out the debt further and reduce the monthly payment

Lots of people had already done that, and had to borrow large mortgages just to buy a modest home where they live.

Not everywhere is the same.

On one hand you are furious about people having to rent forever, and in the other you seem equally furious about those who have just managed to escape that and buy a house but with a huge LTV % so are paying large mortgages.

Is your reaction to most things rage?

People who have mortgages are not rich.
Average homeowner is a minimum 40x richer than average renter

In a society everyone is meant to get help when they need it.
Except the average renter it seems as the Lib Dems excluded them. So their taxes go in the pot, and help…..homeowners! That’s a reverse Robin Hood.

baffling why you're so furious at the mere suggestion that people who live in partially owned houses might require a tiny bit of help
Because it’s queue jumping ahead of those who are in more need at their expense. Telling that you think £300/mo is “a tiny bit of help”

On one hand you are furious about people having to rent forever,
Yes but not just that, rent forever and have to contribute to others owning a home.

Your comment shows that you have absolutely no idea. Many people's mortgages are increasing by £1000+ per month. and
had to borrow large mortgages just to buy a modest home where they live.
BBC calculator says you’d need a mortgage loan debt of £475k to drive a £1k/mo mortgage increase if interest rate went from 2% to 6%. That means a home of at least £525k. They’d also need a minimum income of £105k/yr assuming no debts. Which puts them at a minimum in the top 10% for household income. Also not that modest of a home (see below).

you seem equally furious about those who have just managed to escape that and buy a house but with a huge LTV % so are paying large mortgages.
Average FTB mortgage loan debt is £185k which would drive a monthly increase of £389/mo. The average mortgage amount held per household is only £58k, which would drive a much lower monthly increase.

So, no people facing £1k/mo mortgage increases most likely haven’t “just escaped” renting. And as they’d be in the top 10% (or higher!), they’re quite wealthy and I am baffled about how they have more need than renters who usually are in the bottom 20%?

Is your reaction to most things rage?
No

The Tories shamelessly prioritise the better off.

I will never understand how someone over 65 who owns a substantial property outright, with several private pensions and huge savings needs to get the state pension, free bus pass, hearing allowance etc.

It's disgusting when there are children growing up in poverty.

@Upthebracket22 you are tarring all landlords with the same brush! The house I let out is of a higher decorative standard than my own . I kept the rent the same for five years and two of my tenants were able to buy their own homes which was great going forward. Being a landlord is very stressful if the rent doesn’t get paid you literally have months of no income and an awful situation to deal with involving courts and bailiffs whilst still paying the mortgage and insurances on the property . I have been a renter myself and have seen filthy dirty properties which were advertised but you’re wrong to assume that it’s all like this . Without landlords many would become homeless but I agree with you on the ones who try and let poor property.

Where I live £525k would get you a small 2.5 bed ex council house in a dodgy area.

London?

Ha ha ha! I wish I got housing benefit. Rented/renting for about 8 years, never once had housing benefit even when I was going through chemo and couldn't work.

We currently rent and have been in this house 4 years
The rent hasn't been increased as of yet but similar properties in the area are going for at least £200 a month more.

Partner has recently had an inheritance from a family member which is enabling us to buy somewhere - we have a big deposit and even with higher interest rates we've said we would rather be paying our own mortgage than the landlords and then in time it'll settle down - we will be taking a 18 year mortgage and so in 18 years time we won't have rent/mortgage to pay which is a huge weight off our minds. It's a long term investment it's worrying but we know this is the best long term decision for us.
We wouldn't however expect anyone else to be paying our mortgage

@Discovereads nope, but SE. Average house price here is over £750k so it really isn't beyond the realms of possibility that a small house could suddenly be costing a grand a month more when the fix comes to an end

The Lib Dems also propose a "help to rent" scheme to help with deposits and they propose longer tennancies and linking rent increases to inflation to stop landlords randomly hiking rents by unreasonable amounts. Plus they plan to build more social housing.

Or you could just keep voting Tory and spreading half truths about other parties cos the daily mail told you to. Up to you.

@ihatethefuckingmuffin , not true. I'm a LL and have 8 btl properties. Last 3 bedroom house I advertised got 31 people wanting to move in. EA took references and credit checks on 12 and 11 passed checks. I could have rented it out 11 times over. I even had a couple of people offer 3 month's rent up front and another 2 offer to pay higher rent than I asked for. There is a huge shortage of good quality houses to rent with reasonable tents. Also if house prices drop significantly I suspect LL who are cash buyers will jump in and hoover up cut priced homes. With no mortgage to worry about they won't need to worry about mortgage rates rising.

It's the Lib Dem's. They have no chance.

Will never happen.

That Silly Billy will say anything to try and get a bit of attention going the way of the Lib Dem’s. All this argument and ill feeling for something that won’t happen.

Been renting for over 20 years and have never had housing benefit or UC for that matter. Where did you get this information from?

@Naunet It is the same people who spent years proclaiming benefits were too generous, then during the pandemic ended up out of work and were shocked at how low benefits were.
Most people renting get no housing benefit. If you have no children under 18 and work full-time, you are very unlikely to get housing benefits.

Yep. We get no housing benefit and never have.
Rents gone up £200/mo this year. More than the prior 5yrs combined.
But no “tiny bit of help” for us.

I’m glad to see the:

• ‘why don’t you just buy a house’
• ’oh you see so bitter at people doing better than uou’
• ’I’m a landlord and it’s sooo hard’

brigade have paid a visit to this thread as expected.

Its a bit like this sometimes on here:

mobile.twitter.com/JoshBerryComedy/status/1584187622221844480

How many grown adults with professional jobs do you know who’d be happy to live in shared accommodation? Women in their 50s with furniture, adult children, pets etc? Or are you saying that if you’re single and don’t earn the same as two people you don’t deserve your own space? Of course single people on good incomes should be able to live independently and not like students.

Well landlords are getting rid of their properties and rents have risen as a result so I'm not sure that's the universal panacea you think it should be.