Now that homeowners face nasty price shocks, a shred of empathy for the insecurity that tenants face wouldn’t go amiss 🖊️ CallumCMason via ipaperviews
Currently, landlords are citing rate increases as a reason for this, but in years gone by it’s been the way they are taxed, new requirements from the Government, and my personal favourite, “the market”.
It’s often talked about as if it’s an evil entity, forcing them to increase your rent – despite their default altruistic nature. But what it really means is that other landlords in the area are raising their prices, so they can get away with it too. The mortgage hikes we are seeing now are front-page news because they are big, they are sudden and they are coming as a huge shock to many, who have enjoyed cheap credit and generally secure tenure for yearsIn the past decade of renting across London and Edinburgh, I’ve shelled out nearly £70,000 and learned to dread the final few months of a fixed-term tenancy, when the person who owns my home drops an often nonchalant email explaining why they’ll now be charging me hundreds more for the...
In recent days there has been growing pressure on the Government to consider offering some form of financial support to homeowners. However, similar calls for renters have so far, not been taken as seriously.
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