Since when did a rent freeze mean don’t pay rent?
3 years ago | 18 comments
Lloyds Bank slams landlords as it creates new lettings agency
12:01 AM, 19th April 2023, 3 years ago
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Lloyds Bank says that because landlords offer ‘poor and exclusionary practices’, they are teaming up with the homeless charity Crisis to start a new lettings agency.
It says the new venture ‘will be fair for tenants and fair for landlords’.
The bank says that homeless people won’t be asked to provide rent in advance, and they won’t need to meet strict reference requirements.
‘Chronic lack of affordable housing’
Charlie Nunn, Lloyds Banking Group’s chief executive, said: “A good home is a fundamental human need, and yet the reality is a chronic lack of affordable housing in the UK.
“This means there are too many people trapped in a cycle of temporary accommodation, or living in poor, sometimes dangerous conditions.
“This cannot be right and is why we are announcing our new partnership with Crisis – calling for one million new social homes to be built by 2033, with the clear focus on helping people who are most at risk of homelessness.”
‘First GB-wide not-for-profit lettings agency’
The lettings agency will start later this year in London with the ambition to roll it out across Great Britain – making it the first GB-wide not-for-profit lettings agency.
It will draw on the successful record of the award-winning Homes for Good, Scotland’s first social enterprise lettings agency.
The aim is to deliver one million new social homes that will be built over the next 10 years.
Households on low incomes that are living with poor conditions
The new two-year partnership comes as Crisis reveals there are nearly two million households on low incomes that are living with poor conditions such as mould, damp and overcrowding.
It says that those on low incomes are also experiencing rapidly rising rents and increasing cost of living pressures.
And it has data that shows 2.5 million households worry they will either be forced into poor living conditions or will have to remain in already substandard homes.
The report also highlights that more than 200,000 families and individuals who tried to move last year were forced to accept a property that was unsuitable or in poor condition.
‘Shortage of good quality, affordable housing’
The chief executive at Crisis, Matt Downie, said: “Our new partnership with Lloyds Banking Group will ensure we can take the bold action that is desperately needed to begin tackling the biggest issue facing the people we support – the chronic shortage of good quality, affordable housing.
“Our new lettings agency will mean we can help people experiencing homelessness directly into a safe, settled homes, the essential foundation they need to rebuild their lives.”
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Member Since June 2022 - Comments: 2
11:50 AM, 23rd April 2023, About 3 years ago
“It will be fair for tenants and fair for landlords”. I think there is a typo there as having read the details it’ll be unfair to landlords in every possible way.
Member Since January 2020 - Comments: 20
7:34 AM, 24th April 2023, About 3 years ago
There’s a simpler solution – control immigration and demand drops
Member Since February 2023 - Comments: 40
8:02 AM, 24th April 2023, About 3 years ago
All very commendable Lloyds until you encounter tenants with no social,domestic or budgetary skills who are your tenants.
Very idealistically naive of Lloyds,which will soon dawn on them and their shareholders.
Unless of course they will target high earners , thus negating some of the risks.
Who then will be left housing the unskilled, poorly educated and frankly unemployable?
Lloyds you’re in for a reality check if it’s the latter.
Member Since December 2021 - Comments: 6
11:01 PM, 5th May 2023, About 3 years ago
This is a real joke Lloyds banks really… surely they are not thinking straight. If Lloyds bank really want to help, why dont they just reduce the interest rates and allow better lending to landlords to run this business then there wont be a requirement for Lloyds Bank to feel charitable but they looking out for themselves to cash in, its all about cashing in not about helping the poor
Member Since December 2021 - Comments: 6
11:03 PM, 5th May 2023, About 3 years ago
Lloydies making me laugh, just another way to cash in, it is not about helping the poor. Lloyds have no landlord experience, I bet they will seek advise from P118 that will crack me up even more
Member Since November 2020 - Comments: 134
1:11 PM, 6th May 2023, About 3 years ago
My insurance company requires that (a) all rent is paid upfront before tenant can access the property; and (b) full and strict referencing is carried out.
I suspect that most, if not all, insurance compaies have the same criteria.
And if no rent is being paid up front, then who will be paying the security deposit which has to be legally deposited in a government-approved tenancy deposit scheme, assuming that the property is let on an AST?
Member Since April 2023 - Comments: 28
9:28 PM, 8th May 2023, About 3 years ago
good luck to lloyds then
Member Since April 2023 - Comments: 28
9:29 PM, 8th May 2023, About 3 years ago
maybe we just need huge council estates
Member Since October 2020 - Comments: 7
5:48 PM, 11th May 2023, About 3 years ago
Lloyds statement is beyond comprehension. I will watch this pie in the sky idea keenly. There has to be a catch somewhere. Banks just DO NOT do anything for nothing. Non profit making yeah sure.
Member Since October 2020 - Comments: 7
5:51 PM, 11th May 2023, About 3 years ago
Reply to the comment left by SimonP at 06/05/2023 – 13:11
well pointed out simon p. perhaps a HMGov change in the rules for Lloyds. Afterall they are not a nasty PRS landlord.