‘People-power’ persuades TSB to drop controversial BTL tenancy rules
The lender has dropped its limit on AST contracts for buy-to-let mortgage policies following pressure from Acorn which says such clauses create ‘insecurity for renters.’
Following a recent day of action outside dozens of TSB branches by volunteers from pressure group Acorn, TSB has agreed to end its insistence on landlords’ tenants having a maximum 12-month contract length with its buy-to-let mortgages.
Just four days after the protests took place, TSB met representatives of Acorn and agreed to extend the contract limit to three years.
A delighted Acorn says: “These short contracts leave tenants vulnerable to no-fault evictions, more exposed to rent rises, and put renters in a situation where they have to renegotiate their living arrangements or look for a new home every single year.
TSB ending their unfair practice against renters shows that when we come together we win.”
It adds the change: “Provides much more security and stability for renters, and they have also agreed to investigate and continue dialogue about making this open-ended.”
Ending practice
And Acorn’s National Chair, Chelsea Philips said: “TSB ending their unfair practice against renters shows that when we come together we win. Action was taken by our members – normal people all up and down the country from Portsmouth to Newcastle, ages 1 to 80 to demand insecurity for renters ends.
“It is so inspiring that normal people can take on a bank and win. Things can change and they will if we come together.”
Acorn is a community union that harnesses people-power to take on ‘bosses, landlords and politicians’. Read more about its activities.
Am I missing some’at here or are these lot thick?
If a Landlord wants to do 6 months or a year, he’s still gonna’ do it in’t he?
Someone explain if I’ve got that wrong or these lot are really that thick?
Housing is a human right? Aah right, & I have to provide that human right do I? I think what u need Acorn is a charity or Council. Not Mr Small Human Being Landlord.
Its a pity some of these people don’t keep up to date there will be no fixed term next year. Funny that isn’t we have a government who think that tenants don’t want fixed terms yet a protest group are complaining that 12 months fixed doesn’t give the tenants want. Perhaps they are protesting on the wrong doorstep.
“It is so inspiring” seeing how up to date they with what is happening in the rental market soon you will have even less security. Be careful what you wish for.