Renting can damage careers

Mortgage Introducer

April 5, 2017

Tenants in London can jeopardise their careers due to the upheaval of living in the private rented sector, research from housing charity Shelter published in the Evening Standard has suggested.

Househunting has affected the performance of more than half of working renters, while for one in 10 it has stopped them planning their careers altogether.

Graeme Brown, Shelter’s interim chief executive, said: “House prices in London are so massively out of step with average wages that a growing number of professionals are forced into unstable and expensive private renting.

“It’s no surprise that many people’s working lives are taking a hit. Every day at Shelter we speak to stressed-out renters facing yet another move or uncertain of how long they can stay in their present accommodation. But it doesn’t have to be like this.

“The government can help all Londoners whose careers are suffering by introducing five-year tenancies. This would give a large chunk of the capital’s vital workforce the chance to finally feel secure and settled in their homes.”

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