🔴 Renters are less than half as likely to feel they had enough money set aside for emergencies compared to outright owners, and a third less likely than mortgagors – with the gap “likely to widen”, according to Bank of England analysis
many of these are actually telling landlords they can up costs by even more than they originally intended to doDan Wilson Craw, deputy chief executive at Generation Rent, warned that renters were under “huge financial pressure” with rents having “shot up” on new tenancies and most renters facing rent increases on existing tenancies in the past year.
He added: “When competition for homes is so tight there’s very little choice but to pay these higher market rents, and that means binning hopes of saving for the future.which will directly help those who are facing the worst difficulties in this cost of living crisis.are in so much debt that they are trying to pass on interest rate rises. There is a cost of renting crisis but it’s primarily a result of a failure to build homes, not interest rates.
The Bank of England analysis concludes by saying that banks are “unlikely to be severely affected if renters come under further stress”.
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