this post was submitted on 10 Aug 2023
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UK Politics

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General Discussion for politics in the UK.
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[โ€“] [email protected] 2 points 1 year ago (1 children)

Sounds like renters are the main breadwinner in this economy.

[โ€“] [email protected] 3 points 1 year ago

According to the 2021 Census 62% of households were homeowners, 20% were private renters, and 17% were social, and of that 62% just under 33% are mortgage free.

57% (see point1.32) of landlords have a buy-to-let mortgage and a further ~9% have a conventional mortgage.

So 67% of homeowners and ~66% of landlords having mortgages, I'm going to go with banks taking most of that bread!!!

Rising interest rates affects everyone, and renters have to be protected from predatory landlords, but landlords also need to be protected otherwise it'll be the big companies that step in and acquire the houses that private landlords will be forced to sell. Not all renters can afford to buy a house, getting the deposit being the biggest hurdle, and not all renters want to buy a house.

84% (see point 1.3) of tenancies were represented by individual landlords, with companies representing 13%, it benefits no one for big companies to take more of the share.