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sarahbell

Mortgages for landlords to have DSS tenants

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https://www.gov.uk/government/news/end-to-metro-bank-no-dss-mortgages

 

Thousands of families could benefit from changes to mortgage rules announced by Metro Bank today which currently prevent landlords renting to tenants on housing support, following a roundtable at Downing Street led by Housing Minister Heather Wheeler MP.

Today’s announcement (11 June 2019) is the latest pledge from industry to end potentially discriminatory practices which deny good quality accommodation to those on benefits – such as ‘No DSS’ adverts – and follows similar moves in recent weeks from big names such as Rightmove and Zoopla.

 

Isn't the bigger issue that DSS (Isn't it actually DWP and LHA or UC these days?) doesn't cover the rents needed cos house prices are so high?

 

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12 minutes ago, sarahbell said:

https://www.gov.uk/government/news/end-to-metro-bank-no-dss-mortgages

 

Thousands of families could benefit from changes to mortgage rules announced by Metro Bank today which currently prevent landlords renting to tenants on housing support, following a roundtable at Downing Street led by Housing Minister Heather Wheeler MP.

Today’s announcement (11 June 2019) is the latest pledge from industry to end potentially discriminatory practices which deny good quality accommodation to those on benefits – such as ‘No DSS’ adverts – and follows similar moves in recent weeks from big names such as Rightmove and Zoopla.

 

Isn't the bigger issue that DSS (Isn't it actually DWP and LHA or UC these days?) doesn't cover the rents needed cos house prices are so high?

 

WTF.  O.o

Someone remind me - does the UK have a Marxist government already? They must be just planning ahead for Corbyn.

It's like they all sit round the table and say : - 

"Right, what new prop to property prices can we invent that we can dress up as assistance for poorer people?"

 

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Metrobank fucked up.

Massively.

As well as grovelling to Boe, its had meetings with UKGOV who've kicked its arse/whinged baout the no DSS rules which will be casuing them a massive pain i nthe neck - LAs spend a huge deal of time mopping up the  ess of Browns lunatic IO BTL leveraged LLs chucking tenants out.

IO BTL should never have happened.

Banks hsould never be lendign much money to LL for social tenants. Lunacy.

Anyhow, Metrobank will have to suck up and remove the rule.

However ..... theyll just put a few % on the SVR to cover it.

https://www.google.com/search?q=metro+bank+share+price&rlz=1C1CHBD_en-GBGB837GB837&oq=metro+bank+share+price&aqs=chrome..69i57j0l5.2743j1j8&sourceid=chrome&ie=UTF-8

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