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Pages tagged "banks"


Pressure builds on Natwest over benefit discrimination

Posted on Latest news by Dan Wilson Craw · November 23, 2018 11:54 AM

Back in October, we learned that Natwest had asked one of its buy-to-let customers to either evict her tenant, who was receiving housing benefit, or pay a draconian fee to switch her mortgage.

The bank’s terms and conditions prohibited customers from letting to tenants in receipt of housing benefit. Yet another example of a bank discriminating against low-income households and fuelling the “No DSS” culture. But this time, 62% of the bank is owned by the government, i.e. us.

The landlord has started a petition urging the government to stop this practice by high street banks, and it’s nearly at 5000 signatures.

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Are banks behind your latest rent rise?

Posted on Latest news by Dan Wilson Craw · February 01, 2017 3:38 PM

This morning, Mortgage Strategy magazine and the Daily Telegraph reported that Santander is requiring its buy-to-let borrowers to raise the rent on their tenants as high as possible.

The bank even demands that landlords get a valuation of the market rent every time the tenancy is up for renewal and then "take all steps to ensure that the review [with the tenant] takes place and leads to the maximum increase in the rent which can reasonably be achieved."

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Generation Rent is the operating name of the National Private Tenants Organisation Limited. 

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