Stylist Magazine (Oct. 2022): Mortgage Payments are set to soar - so how does this impact renters?

Description

The article focuses on the current turmoil in the UK mortgage market to highlight the ways in which this might impact people who are renting. For example, if mortgage increases are passed on to tenants, already pressurised household budgets will be stretched further. The medium to long-term picture looks very bleak, with potential for greater numbers of tenants being unable to pay their rent. In the short-term, for renters looking to buy, the net costs of acquiring a property are going up significantly. As more resources are being consumed by paying increased rents, this limits renters' capacity to enter the property market.