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Richest Mp Buys Up Housing Estate, Plans To Treble Rents

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Oink, oink forget tenancy and land reform with MP's like this. Their massive land grab is going well.

http://www.mirror.co.uk/news/uk-news/devastated-families-face-eviction-after-3786578

Berkshire MP Benyon is a director of his family’s 300-year-old Englefield Estate, which owns 20,000 acres of land from Hampshire to Scotland.

Its portfolio includes the 250-property Benyon Estate in East London which is now a “minority shareholder” in the flats on the New Era Estate.

His brother Edward Benyon confirmed the family was part of the consortium during the meeting.

He also announced plans to ­refurbish the 1930s homes and build more flats on the roof.

Edward added: “The goal, which is something I have had to say to all of you, is the fact that the rents will be going to market value.”

He refused to confirm future rents but the Benyons have already hiked them by 10% this year.

Edward said: “Bearing in mind the rents were so far below market value we ­considered a 10% rise to be fair.”

One resident said: “When Edward Benyon came up to my flat he actually said that next year would be a lot more.”

Mind you if he bought where I lived and he moved to 'market rents' I would probably get a rent reduction!

Edited by aSecureTenant

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Tory - Check

Landowner - Check

: “Richard is a firm supporter of the welfare state and the safety net it provides for people.
Like him.

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Tory - Check

Landowner - Check

Like him.

Two welfare states. The first one provides a basic safety net, a roof over your head if you are lucky. The second allows Tory landowners to acquire more land and property. For some reason we get cross with the former.

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I don't know what is worse, Tories that have inherited property by accident of birth or Bollinger Bolsheviks that try and emulate them as in Messrs Meacher and Blair. It seems to me that you have to make more of a conscious decision if you get into BTL and decide to screw over the younger generation in favour of number one. It might be more difficult to extricate yourself from a family trust.

Edited by crashmonitor

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Two welfare states. The first one provides a basic safety net, a roof over your head if you are lucky. The second allows Tory landowners to acquire more land and property. For some reason we get cross with the former.

Housing benefit is a quite perfect ruse for the landowners/rentiers,supposedly helping the poor with a roof over their head whilst pocketing taxpayer money free and clear. The greatest part of the ruse is that it seems very unlikely it can ever be undone just rise exponentially

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Small anecdote:

I remember in 1992 my (then) boyfriend's retired parents came back from living in Spain penniless (after an unfortunate failed business attempt, very sad) and he put them up in his second house (he had two after keeping his first one and buying another). Because they were eligible for benefits the rent etc was paid for by benefits. In my early 20's and quite naïve at the time, I was completely dumbfounded that this was perfectly legal and that it went against the 'spirit' of welfare.

So there you have it, this moral hazard as been well in place for the last 22 years.

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Small anecdote:

I remember in 1992 my (then) boyfriend's retired parents came back from living in Spain penniless (after an unfortunate failed business attempt, very sad) and he put them up in his second house (he had two after keeping his first one and buying another). Because they were eligible for benefits the rent etc was paid for by benefits. In my early 20's and quite naïve at the time, I was completely dumbfounded that this was perfectly legal and that it went against the 'spirit' of welfare.

So there you have it, this moral hazard as been well in place for the last 22 years.

A friend of mine's dad is thinking about buying next door for his unemployed son.......the housing benefit enquiry has been agreed should he decide to proceed.

The usual story....... boomer looking for yield. God knows what is going to happen after 6th April next year literally billions available to boomers for house purchase. As much as I welcome the new pension arrangements with mega lump sums on tap from 55...I just know that boomers will do the wrong thing and buy property.

Put up interest rates you f%%king idiots.

Edited by crashmonitor

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Since she moved in, the Benyon Estate has raised Lindsay’s rent from £668 a month to £796.

The average cost of a similar two-bedroom flat on Rightmove.com is nearly £2,000 a month.

Is that just in London or that particular area? Workers only in London and shirkers to move north to cheaper housing?

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"Revolution anyone?"

Not quite yet thank you .....but I`m watching events.

I`ve watched my rent go from £50 to £100 over the past 10 years (council naturally).

Seems to me that the pyramid (of social housing) is being eaten away from the bottom up.

Need to make a plan....

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A friend of mine's dad is thinking about buying next door for his unemployed son.......the housing benefit enquiry has been agreed should he decide to proceed.

The usual story....... boomer looking for yield. God knows what is going to happen after 6th April next year literally billions available to boomers for house purchase. As much as I welcome the new pension arrangements with mega lump sums on tap from 55...I just know that boomers will do the wrong thing and buy property.

Put up interest rates you f%%king idiots.

Er, correct me if I'm wrong, but isn't it against the rules to have housing benefit paid to a relative? Even to a company where a relative is a Director? or so I was told..

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Er, correct me if I'm wrong, but isn't it against the rules to have housing benefit paid to a relative? Even to a company where a relative is a Director? or so I was told..

I think there is an element of incapacity (is it called ESA these days) involved here. All I know is that the proposal was approved.

I wouldn't be surprised if ESA claimants outnumber the ordinary unemployed.

Edited by crashmonitor

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Er, correct me if I'm wrong, but isn't it against the rules to have housing benefit paid to a relative? Even to a company where a relative is a Director? or so I was told..

No.

http://england.shelter.org.uk/get_advice/housing_benefit_and_local_housing_allowance/what_is_housing_benefit/housing_benefit_if_renting_from_a_family_member

Only rules against parents renting to the kids, not the other way round bizarrely and or where it CAN BE PROVED that the tenancy was/is contrived. 22 years this has been going on (at least) and to think only 600 people have enabled/allowed it to happen. <_<

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So they have a1 year warning before rents are hiked

And he paid a tidy sum to buy up the estate which presumably can be ploughed back into social housing by the council or housing association(?) He bought it off?

Non story

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No.

http://england.shelter.org.uk/get_advice/housing_benefit_and_local_housing_allowance/what_is_housing_benefit/housing_benefit_if_renting_from_a_family_member

Only rules against parents renting to the kids, not the other way round bizarrely and or where it CAN BE PROVED that the tenancy was/is contrived. 22 years this has been going on (at least) and to think only 600 people have enabled/allowed it to happen. <_<

That contradicts the fact that it was father to son rental in my previous example. Playing the disability card presumably overrides this rule.

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The 'rules' are so ridiculously easy to circumvent with a bit of clever 3 month bank statement accounting. And I suspect that this is far more widespread than any reports suggest.

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Market rents lol...bet he's a real 'free market' Thatherite tory who at the same time praises the state monopoly over planning permissions.

Some would call it a conspiracy if it wasnt so blatant.

My verdict: The 'man' is scum.

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Reading this thread at the same time as watching the footie and up pops a US video advert on the footie link for professional help to claim benefits via the "Benefit Claim Helpline".

It all originates from the US "the home of capitalism".

Edited by billybong

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So they have a1 year warning before rents are hiked

And he paid a tidy sum to buy up the estate which presumably can be ploughed back into social housing by the council or housing association(?) He bought it off?

Non story

The Mirror story says the previous owner of the estate, which put it up for sale 2 years ago, was First LBS Holdings Limited. First LBS Holdings Limited is now Hoxton Regeneration Limited, having changed its name on 28th April this year. (Company no. 00597445 if anyone's interested)

Doesn't sound much like a councl or housing association.

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The Mirror story says the previous owner of the estate, which put it up for sale 2 years ago, was First LBS Holdings Limited. First LBS Holdings Limited is now Hoxton Regeneration Limited, having changed its name on 28th April this year. (Company no. 00597445 if anyone's interested)

Doesn't sound much like a councl or housing association.

Fair enough

So what to you suppose they will do with the money?

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The Mirror is talking rubbish. I used to rent privately off the Benyon Estate in Hackney and still live and rent locally. They are exactly the kind of professional landlords that the private sector needs. The Benyon Family built their housing stock in the 1840s and they rent well-maintained properties at slightly less than market rate in order to get longer-term tenants - including tenants receiving housing benefit like my old neighbour. Because the company is well run it makes a profit. And because they have a long-term view, and this is an area undergoing the most rapid regeneration in the country, they are investing in the redevelopment or refurbishment of areas like The New Era Estate which is currently little more than a slum.

Most private renters in the neighbourhood would give their right arm to rent off the Benyons. Around here the alternative is all too often an absentee landlord in Malaysia or China who wouldn't think twice about hiking the rent. Or they could take they chances with those socially-minded, ethical chaps at Foxtons. Seriously - apart from La La Land economics where private landlords rent out shiny 2-bed central London flats at peppercorn rents - what does the Mirror expect the Benyon Estate to do?

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