Friday, Apr 10, 2015

Another bung for the rentiers

Guardian: 'Help to rent' scheme for young people proposed by Liberal Democrats

Help to Indenture will follow close behind, no doubt.

Posted by sibley's b'stard child @ 01:16 PM (5778 views)
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1. reticent said...

A friend of mine suggested this to me as a legal requirement for all Shorthold Assured Tenancies in order to control BTL. I asked him what he thought of this policy and he said it was a good idea in principle, but didn't really solve the problem of housing being too expensive.

Nevertheless, it's more welcome than HTB.

Greens are winning on housing IMO, purely because they want to build council houses rather than promising some stupid number of homes they will never be able to force the private sector to deliver on, without actually committing to build any themselves, like the Labour/Conservatives/Lib Dems.

Friday, April 10, 2015 01:28PM Report Comment

2. nickb said...

Greens also favour Land Value Tax, though I'm not sure if that is in their manifesto or long term vision. Anyway, if I don't spoil the ballot paper they will get my vote.

Friday, April 10, 2015 05:48PM Report Comment

3. cornishman said...

"The (Lib Dem) party says many young people are struggling to save deposits to rent without help from family members, forcing them to live with their parents for longer. The average rental deposit in the UK is £1,200, usually six weeks of rent."

So these poor souls, who are forced to live with their parents, need to borrow a deposit to rent somewhere of their own?

The deposit is 6 weeks' rent. Why on earth can they not save that deposit in 6 weeks, if they are living with parents and not paying rent? Even if they are paying a modest rent to their parents as well as something for food, they could surely save the deposit within a few months if they are going to be able to afford to pay the £200/month rent (plus the council tax and water rates) once they have their own place.

Friday, April 10, 2015 06:12PM Report Comment

4. pete green said...

LVT is in the green manifesto - and build council housing which is a bit like LVT as it will achieve the same outcome

My vote is going green this year

Friday, April 10, 2015 06:14PM Report Comment

5. cornishman said...

Just read the comments below the Guardian article - seems like a lot of other people think the same thing as me.

Friday, April 10, 2015 06:18PM Report Comment

6. nickb said...

In Reading the average deposit is about 2 weeks' rent. I guess this suggests that in London the average deposit is something ridiculous. I used to live in Amsterdam where it was 2 month's rent, and at least half that again for the agent's fee, so with the first month's rent, four months of high rent up front. Outside the Randstadt such a ripoff was inconveivable.

Friday, April 10, 2015 08:04PM Report Comment

7. nickb said...

Sorry I'm muddling deposit and agency fees; the deposit is a month and the agent's fee about 2 weeks in Reading.

Friday, April 10, 2015 08:05PM Report Comment

8. icarus said...

"Rented property LADDER" (Clegg). WTF? The government isn't going to give renters a rebate on past rent payments to private landlords in order to enable the former to move up the ladder into a place with a higher rent.

Is it?

Friday, April 10, 2015 08:57PM Report Comment

9. reticent said...

Sorry I didn't read the article and thought this was the same as the 'rent to own' scheme when referring to my friend suggesting such a scheme as a mandatory option for all private tenants some time ago.

This is stupid. How are these kids going to learn to save 5% +sdlt +fees whilst paying rent if they can't save 6 weeks' rent in 6 weeks of not paying rent?

Saturday, April 11, 2015 08:21AM Report Comment

10. Mombers said...

It's a ladder in that unless your wages keep up with everyone else's, you have to move into crapper and crapper digs, even when rents rise despite increases in landlord's costs..

Saturday, April 11, 2015 08:55PM Report Comment

11. britishblue said...

I suspect all policies like this will do is to increase the amount of deposit
/ costs charged by estate agents/ landlords. Over the last 10 years all sorts of additional costs/ fees have started coming in like credit check fees, registration fees, check in and out fees, cleaning fees with named companies including carpet cleaning and curtains even if you have been there for one year only. Also there sometimes isn't transparency between what a landlord wants and an estate agents wants. I recently rented a property and asked if the landlord would agree to a 4 year let as I need to be in this particular area for this time period. Given this was over a 100k commitment and I was offering to have factored in inflation rises, etc, it seemed very reasonable to me. This was rejected by the estate agents as the maximum they would rent for was two years. However, when I met the landlord a few months later he would have been delighted to have agreed this and the only reason why it wasn't put forward was so the estate agents could gain more fees in a couple of years time. So help to rent, will go the same way as help to buy. The benefits will be taken by the agents/ landlords.

Sunday, April 12, 2015 09:43AM Report Comment

12. cornishman said...

Over £100,000 shelled out of taxed earnings just to pay for somewhere to live for 4 years doesn't seem 'very reasonable' to me!

Sorry, BB, I know this detracts from the main points you were making - but it illustrates how crazy things have become.

Sunday, April 12, 2015 01:37PM Report Comment

13. britishblue said...

C@11. that Is the going rate for a standard 3 bed in a safe area on the outskirts of London.

Sunday, April 12, 2015 08:46PM Report Comment

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