June 4, 2019
5 minute read
The plight of those renting in 2019 in the UK is highlighted in the latest release from our Annual HomeOwners Survey, polled by YouGov and sponsored by BLP Insurance.
The survey of more than 2,000 UK adults found those renting face problems including:
The research conducted ahead of this month’s ban on letting agent fees found almost half of renters (48%) supported an end to upfront charges for things like inventories and reference checks. But while those concerns have finally been addressed in recent days, more than a third said they would like:
And almost 4 in 10 of those renting are stuck in cold, damp properties with landlords unwilling to do basic repairs and maintenance.
More than a third of British renters have trouble getting their landlord to carry out essential repairs (39%); live in cold and damp properties (38%) and have anti-social neighbours (36%)
Paula Higgins, Chief Executive of the HomeOwners Alliance, says: “It is disgraceful that such high numbers of people living in rented accommodation are putting up with damp, cold properties and reluctant landlords who do not maintain their homes to the required standards.”
One in ten of those renting a home has been evicted with NO cause, one in six are on short-term leases with NO security of tenure (17%) and nearly one in six say their rent was unfairly increased (16%)
The survey found that more than three quarters (77%) of the 4.5 million households renting their homes in the UK would like to own their own home – that is 3.5 million aspiring property owners. But the majority of them – 2 million (59%) – think they will never be able to.
Paula Higgins, Chief Executive of the HomeOwners Alliance, says: “We have a crisis on our hands. A majority living in rented accommodation desperately want to buy a home of their own – yet most think this is a pipe dream. This shouldn’t be the case in the fifth strongest economy in the world.”
Some help is available to assist those who want to buy their first home, such as Help to Buy, where you can buy a home with as little as a 5% deposit. It continues to be a popular scheme despite fundamental leasehold problems.
Some two thirds of UK adults and 64% of renters think that the Help to Buy equity loan scheme is a good idea in terms of helping first-time buyers get on the ladder as it addresses the major hurdle of saving a deposit. One in six (17% of UK adults and 15% of renters) think it is a bad idea. Criticisms raised around Help to Buy include:
Help for renters wanting to get on the property is also available in the form of Shared Ownership, where you can buy between 35% – 75% of your home and rent the remainder.
In our 2019 survey, less than half of UK adults (49%) and 46% of renters think Shared Ownership sounds like a good idea as an alternative to renting. A third (33% and 32% respectively) think it is a bad idea. Criticisms of Shared Ownership include:
We asked renters their view of Build to Rent. This relatively new scheme describes new build properties built specifically for renters and offers longer tenancies, a single, professional landlord and numerous concierge benefits. You can find out more here about Build to Rent.
A significant proportion of renters we surveyed feel Build to Rent features would improve the rental experience and address top problems faced by renters. The features respondents describe as most impactful are:
Kim Vernau, Chief Executive at BLP Insurance, says:
“With no quick fix to the problems plaguing the housing market, a pragmatic approach that tackles issues from multiple directions is necessary. As potential first-time buyers continue to struggle to gain access to homeownership, it’s vital that real progress is made towards improving rental conditions.