Read this week's column by mikedailly ✍
over substance has a limited shelf life, certainly in politics and probably for most things in life too. Promises and gestures can be alluring and appeasing but at some point, people need delivery., the new incumbent inherits some unenviable challenges.
The Cost of Living Act 2022 came into effect last October as an emergency response to the cost of living crisis and the post-pandemicThe Act has prevented tenants in the social rented sector from being evicted unless they had at least £2,250 of arrears; for private rented sector tenants, eviction would only take place where there were six months of arrears or more.
It dawned on me that we’ve been kicking a lot of complex problems into the long grass for some time now – creating a bubble of false security. Is that bubble about to burst?council This has been a much-needed cooling of our overheated PRS market. Although, if the rent cap isn’t continued or replaced later this year its purpose could be undone quickly.
Base rate rises impact residential and buy-to-let mortgages as well as credit lending costs generally. I have no doubt that this will lead to an increase in homeowner mortgage repossessions across the UK.
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