Renters left out in the cold, says Shelter

by:
  • 03/10/2017
  • 0
Renters left out in the cold, says Shelter
Renters in England are struggling to pay their rent and spending far more of their income on housing than those with mortgages.

Housing charity Shelter said of the 4.5 million households renting privately in England, 53% are either struggling to pay or falling behind on their rent.

On average private renters spend 41% of their gross income on rent, far higher than most homeowners spend on their mortgages.

As a result, Shelter said private renters are highly motivated by housing, ranking it in their top three issues – compared with seventh for the general public as a whole.

The proportion of registered private renters who turned out to vote in the 2017 election was 65% – up from 51% in 2015 – a jump greater than any other tenure. Private renters also had one of the biggest vote swings in 2017 towards Labour.

Polly Neate, chief executive of Shelter, said it is not surprising that private renters are voting in greater numbers because of a deep dissatisfaction with housing.

“With little hope of benefiting from schemes like Help to Buy, struggling renters have been side-lined for too long. It’s not right that thousands of renters are dipping into hard-earned savings or getting into debt because huge chunks of their salary is being snatched away by eye-watering rents.

“Instead of leaving millions of private renters to hopelessly scrape by each month, we are calling on the government to end the freeze on housing benefit and commit to building decent homes at genuinely affordable rents.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions
Read previous post:
x don't use
Household debt-to-income ratio 60% higher than 1988

The debt-to-income ratio of the UK household sector stood at 137% in the first quarter of 2017, up 2.2% on...

Close