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Posts Tagged ‘house insurance’

Shelter fearful for tenants

Monday, February 28th, 2011

Housing charity Shelter have, since last summer, been warning of the problems that could occur when the Coalition Government’s cuts in housing benefit start. Now they are also warning that rents in many parts of Scotland are unaffordable for an ever increasing number of hard working people.

Both Shelter and the NLA (National Landlords Association) anticipate the situation will only get worse unless the coalition stops tinkering with their housing polices. People are buying good household insurance to protect their possessions but if things go as Shelter and the NLA predict, some will no longer be living in the same property. Almost 10% of tenants are failing to pay the rent each month, according to the latest figures. The British Property Federation (BPF) thinks this shows tenants on benefits are deliberately not paying their rent. However, the British Property Federation’s view has been dismissed by both Shelter and NLA. Both feel the rising level of rent arrears is simply the latest pressure point in the United Kingdom’s housing market.

Gordon MacRae, head of policy at Shelter, told The Herald “What these figures show is that the cost of living is going up and incomes are not, and in the last 12 months we have seen more and more people pushed over the edge.

“Rents are extortionate for many working people on low incomes, not just in London but in places like Edinburgh and Aberdeen as well, and at the route of it all is the lack of housing supply. It is a very difficult time and it will continue to get worse if only piecemeal solutions are attempted.”

Since 1999 average rent increases have closely mirrored average earning increases. But in the last 18 months the evidence indicates this is no longer the case and Shelter fear for the huge amount of people who will be unable to pay the rent.

Tags: house insurance, tenants
Posted in home insurance | No Comments »

The season of goodwill not quite the case for all

Tuesday, December 14th, 2010

Homeowners across the UK are given warning today that their property could easily be one of the 70,000 houses that are broken into by criminals over the festive season.

Insurance companies well versed in handing out Christmas claim forms for household insurance owners say that without doubt December is the worst month for burglaries everywhere in Britain. New research suggests that the early hours of Christmas Day is a hot spot for break-ins and one insurance firm has got the information from the ‘horse’s mouth’.

More Than insurance interviewed 50 reformed criminals to get their inside information. The research concluded that the 23 minutes between 1.55 am and 2.18 am was the optimum time for burglars to strike on Christmas Day, with homeowners either out visiting friends and family or too deep into a alcohol induced sleep to hear the work of the robbers downstairs.

The survey revealed that 8 out of 10 thieves saw this time as the best opportunity to do their work. They also revealed that the generosity of most Brits at Christmas time meant that houses normally considered not wealthy enough to rob became viable targets at the festive season.

Apparently about half of the thieves head straight to the Christmas tree to steal goods and 1 in 10 actually steal the tree as well as the gifts underneath it. The ex-villains confirm that leaving a light on is a deterrent and one sign of the times is highlighted by the fact that some thieves will check social media sites for hints on whether homeowners will be out of their homes at certain times as they plan their nights work.

Tags: home insurance, house insurance, household insurance
Posted in Homeowners, contents insurance, home insurance, property market | No Comments »

Gloomy news on the house front

Wednesday, September 1st, 2010

The latest figures from the Bank of England suggest a greater decline than ever before in first time buyers moving into new properties and looking around for cheap home insurance.

According to figures released from Threadneedle Street, mortgage spending fell dramatically in July to £86 million. It is one of the lowest mortgage lending totals since records began in 1993 and is massively down on the June figure of £518 million.

The Bank of England also confirmed that annual growth on net lending, based on the last three months, had fallen 33% in the last quarter down to 0.4 from 0.6. The gloomy figures have once more brought attacks on the banks from politicians accusing them of stifling growth in the housing market by refusing to lend to first time buyers.

Lord Newby, a treasury spokesman summed up the situation thus; “Mortgage lending has gone from feast to famine, down by two-thirds in four years. The banks went wild in the boom, but while no one is saying we should go back to 125% mortgages, this mortgage starvation punishes first time buyers with good jobs.”

The banks defend their situation by saying they are quite prepared to lend money but consumers are taking advantage of the low interest rates at the moment to repay debt rather than going out and borrowing more. Adrian Coles, the Director General of the Building Societies Association, said “There remain significant challenges such as heightened uncertainty about job prospects and household incomes, potentially limiting future demand. This could make it difficult to sustain the growth in activity.”

Whatever the reasons behind the figures few experts in the sector anticipate any significant upturn in house sales for the next quarter.

Tags: home insurance news, house insurance
Posted in Advice for tennants, home insurance | No Comments »

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