{"id":1959,"date":"2010-06-25T08:10:44","date_gmt":"2010-06-25T08:10:44","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=141"},"modified":"2010-06-25T08:10:44","modified_gmt":"2010-06-25T08:10:44","slug":"housing-benefit-cut-but-shares-in-prozac-are-sure-to-rocket","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/housing-benefit-cut-but-shares-in-prozac-are-sure-to-rocket\/","title":{"rendered":"Housing Benefit Cut.."},"content":{"rendered":"

\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e<\/p>\n

The government\u2019s decision to clamp down on the \u00a321bn housing benefit bill has sent shockwaves throughout the private rented sector.<\/p>\n

From next April, housing benefit will be capped at \u00a3400 per week for a 4+ bedroomed property, \u00a3340 for a 3-bedroomed, \u00a3290 for a 2-bedroomed and \u00a3250 for a 1-bedroomed. The cut is aimed to reduce the present \u00a3103,000 maximum housing benefit, which can be claimed each year by slashing it to \u00a320,800.<\/p>\n

The blanket cut couldn\u2019t have come at a worse time for tenants. The previous government\u2019s forecast that an estimated 240,000 new builds were needed each year, running up to 2020 to sustain the growth and housing requirements for the country\u2019s residents, but only a mere 118,000 were completed in 2009.<\/p>\n

The deficit resulting from the scarcity of new housing under the local authority umbrella and unobtainable mortgages has resulted in a major increase of consumers looking to the private rented sector to house them. Because of LHA <\/a>payment rules, were rent is paid direct to the tenant, landlords are already reluctant to give tenancies to those in receipt of the benefit. The recent slash in this week\u2019s budget will no doubt see thousands evicted<\/a> as a result.<\/p>\n

Obviously, it is understandable to be angered and frustrated that taxpayers subsidise luxurious accommodation in some of the most affluent areas in Britain, while most of us can only aspire to obtain such a residence. Many people have a view that landlords have deliberately upped the rents to cipher more money from the benefits system is undoubtedly a misconception. Certain areas obviously command higher rents. Whether the tenant is receiving LHA benefit or is working, the rent, which has been set will be on par with the current going rate in that particular neighbourhood. The recent shift in the rising trend for privately rented accommodation now see\u2019s the landlord in an abundance of potential tenants.<\/p>\n

The recent proposal of capping mortgages at an LTV of 75% will only exacerbate things. Banks already impede the borrower, holding the reins and subjugate with austerity to mortgage applicants. Expecting a 25% deposit upfront will make mortgages a mere pipe dream for most people. As a result the country\u2019s housing benefit bill will rise. As with a mortgage, there is no weekly or monthly aid in the guise of benefits for people who are working to subsidize mortgage payments, however, in most cases, even when working, most people receive a subsidy through housing benefit for rented accommodation.<\/p>\n

You do the maths Mr. Osborne.<\/p>\n

By
\nMadalena Penny<\/p>\n","protected":false},"excerpt":{"rendered":"

\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e The government\u2019s decision to clamp down on the \u00a321bn housing benefit bill has sent shockwaves throughout the private rented sector. From next April, housing benefit will be capped at \u00a3400 per week for a 4+ bedroomed property, \u00a3340 for a 3-bedroomed, \u00a3290 for a 2-bedroomed and \u00a3250 for a 1-bedroomed. The cut is aimed […]<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[34],"yoast_head":"\nHousing Benefit Cut.. - Legal For Landlords<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/housing-benefit-cut-but-shares-in-prozac-are-sure-to-rocket\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Housing Benefit Cut.. - Legal For Landlords\" \/>\n<meta property=\"og:description\" content=\"\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e The government\u2019s decision to clamp down on the \u00a321bn housing benefit bill has sent shockwaves throughout the private rented sector. From next April, housing benefit will be capped at \u00a3400 per week for a 4+ bedroomed property, \u00a3340 for a 3-bedroomed, \u00a3290 for a 2-bedroomed and \u00a3250 for a 1-bedroomed. 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