Tenants want to see more government support for sector

Tenants want to see more government support for sector

10:05 AM, 12th April 2023, About A year ago 4

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Renters say they want more financial help from the government for first time buyers and help with paying their bills, research reveals.

The findings from The Mortgage Lender (TML) found that more than two-fifths of tenants (44%) want government support to help combat the cost-of-living crisis.

And 30% would like to see lower interest rates since this might help with rent affordability, while 34% say they worry about paying their rent.

However, 23% of renters are keen to see more support to help make their homes more energy efficient.

‘Many renters facing a series of challenges’

Steve Griffiths, TML’s chief commercial officer, said: “With many renters facing a series of challenges in their journey to homeownership, the rental sector has never been more important.

“But high demand continues to outstrip supply, ultimately pushing up rental prices, and the cost-of-living crisis plays a significant part in affecting consumers’ overall affordability.”

He added: “It is evident those who want to step foot onto the property ladder are seeking more support from the government in order to do so, whether that’s helping with shorter term finances or support for the wider property market to help increase access for new entrants.

“But with much uncertainty still around in terms of inflation and interest rates, there may well need to be some further intervention to help people achieve their property goals.”

Improved quality controls within the rental market

The research from TML highlights that tenants worry about rising costs and high inflation with 27% saying they want to see improved quality controls within the rental market.

Also, 26% want better first-time buyer support from the government and 15% of renters want to see more housebuilding to boost property stock.

When asked about affordability, 45% of tenants say that affording their regular household bills and other property expenses was their biggest concern – and 34% said that affording their rent payments was their biggest worry.

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16:12 PM, 12th April 2023, About A year ago

The naivety of these people that they think they can get a free lunch from a parasite...

Any government "help" is just a another nail in the coffin of liberty.

We are where we are due to .gov "help".

Old Mrs Landlord

9:11 AM, 13th April 2023, About A year ago

Seems renters have many of the same stresses and concerns as landlords and the rest of the populatioon. At least they are not facing a 4,000% increase in mortgage rates like many landlords.
The Government's Help tp Buy scheme was great for housing developers but its negative consequences for those purchasers who first took advantage of it are beginning to be felt, especially for those who bought flats with dangerous cladding. First time buyers are better off without that sort of Government help.


17:10 PM, 15th April 2023, About A year ago

Reply to the comment left by Old Mrs Landlord at 13/04/2023 - 09:11
Couldn't agree more.

Bought my first home at the tender age of 22 by forgoing a social life and working 5 extra jobs for a couple of years.

Look I know the little darlings are getting fleeced by the government making them pay for their degrees and then adding insult to injury with penal interest rates, but they now work from home giving them extra hours each week to help solve the labour shortage in the hospitality and other industries or subcontract on Fiverr.

Every time the government tinker with the property market, it ends in tears:

- When MIRAS was being withdrawn I was selling that property and it ended up in a bidding war of (increasingly poor quality) offers as people tried to lock in the tax benefit before the market crashed back to normality
- Help to Buy - a licence to print money for national home builders which didn't stop them selling leasehold houses with rampant ground rent increases
3% on SDLT - prices spiked before implementation
- SDLT cut over pandemic - prices go mad, even the stuff which was still underwater since 2008
- Jeremy Hunt was forced to keep the mini budget SDLT cut in order to support the market after Truss/Kwarteng put mortgage lending on the critical list

Why don't the darlings go to the council and ask why they are not prosecuting criminal landlords and agents but push up rents by implementing indiscriminate licencing schemes?

Reluctant Landlord

14:32 PM, 17th April 2023, About A year ago

the government could help tenants AND landlords at the same time buy leaving the PRS well alone!

Each of their actions has an inevitable negative reaction, so best they just stop interfering and let things find their own level for 5 mins before thinking up another 'helpful' idea.

What the worse that can happen exactly given the mess we are already in....?

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