🏠 The number of landlords in arrears is rising due to the fact housing benefit doesn’t cover private rents, leaving low-income renters with a shortfall 🔴 Victoria_Spratt reports
Matt Downie, the chief executive of homelessness charity Crisis, said: “The Government’s refusal to invest in housing benefit so that it covers the true cost of private rents means that people from all walks of life are now finding themselves sucked into a fight to stay afloat because they simply don’t have enough money to keep a roof over their head.
“Now with buy-to-let mortgages at risk of defaulting, it’s clear that the housing benefit system is broken. It’s time for the Government to set aside its excuses and get on with pulling thousands back from the brink,” Mr Downie added. When asked whether the LHA would be increased to cover rents, a Government spokesperson from the Department of Work and Pensions said: “We recognise the pressures of rising rents and the Government is projected to spend approximately £28.5bn supporting renters with housing costs in 2022-23.
“During the pandemic, we increased local housing allowance significantly, beyond inflation, and we are committed to protecting the most vulnerable which is why we’re maintaining that boost – keeping support for private renters above pre-pandemic levels.”: “The Chancellor has met with mortgage lenders to make clear that borrowers should continue to be supported now and in the future.”
They added that HM Treasury would continue to monitor the mortgage market amid economic uncertainty and interest rate rises and pointed out that the regulation “requires firms to offer tailored support to those struggling to pay and should help them return to a position where their mortgage is affordable and sustainable over the long term”.
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