Die pünktliche Bezahlung der Miete könnte endlich dazu beitragen, Mietern eine Hypothek zu erhalten
Paying rent on time could finally start helping renters get a mortgage: ‘A very positive step’
Von HadjiChippoSafri
Die pünktliche Bezahlung der Miete könnte endlich dazu beitragen, Mietern eine Hypothek zu erhalten
Paying rent on time could finally start helping renters get a mortgage: ‘A very positive step’
Von HadjiChippoSafri
10 Kommentare
Always amazed me that it didn’t. I remember my 1st mortgage application. Apparently the £7 a month to Netflix and £40 at a pub were significant, but the £900 every month going to Savills wasn’t.
„The reforms will see mortgages offered at more than 4.5 times a buyer’s income, which Labour claims will create up to 36,000 additional mortgages in its first year in operation.“
Being able to borrow at increasing ratios of your earnings is what got the property market into this mess in the first place.
It’s definitely a positive step so far as affordability checks go, but it doesn’t change the larcenous cost of property or the deposits and lending multipliers which apply and which are a barrier for first time buyers.
Unfortunately if those are also relaxed, it will just push prices up. Look what happened when women’s incomes could be taken into account, or when interest rates were low – prices just went up as there was more credit available.
The only solution – the only one – is to build more and drive up supply.
Think they already do this because my broker was able to use my history paying rent to get my mortgage.
About time too!! After 3 years of paying £1200 a month in rent, the lenders decided that there was no possible was I could afford more than £800 a month mortgage.
I understand that lenders are taking on a risk with lending large amounts of money, but seriously, if you have a solid record of paying rent on time it absolutely should count
Only thing I would say is that does this put your credit ratings at the mercy of letting agents? If so they need to ensure letting agencies are suitably qualified/competent to do this and any additional costs to them will of course be passed on to the landlords and in turn the tenants.
Allowing borrowing above 4.5x salary will also fuel house price growth and in turn add to the increase in renters not being able to afford to buy. Great if you own property now, but not so great if you’re trying to get on the ladder and out of rentals.
When are we going to see this mass boom of affordable housing, I think this is the only way we fix the issue.
I’ve been renting the same house for 20 years never missed a payment! Bit late to buy now for me but hopefully will help others if that happens
If this does get implemented, this will be a long time coming.
Wow, pay your bills on time and it helps your credit, What a concept. lol
Doesnt this mean prices will skyrocket tho? More people can afford=higher demand=higher prices=cant afford again