PRESS RELEASE FOR IMMEDIATE RELEASE:
Victory for renters unions as Santander bank “remove” buy-to-let mortgage “rent rise clause”
In a victory for new tenant unions, Santander bank have today confirmed they will remove a controversial clause in their but-to-let mortgages which previously forced landlords to get "the maximum increase in the rent".
Following a petition signed by almost 1000 renters, tenant activists were planning a national day of action this Saturday, with protests planned at Santander branches in 8 cities. Celebration rallies will now go ahead instead.
Santander have confirmed to tenant unions:
“We have never invoked the clause and having reviewed the wording, we are in the process of removing it from our terms and conditions.”
Private tenants in the UK already pay the highest rent in Europe. In the last decade, average rents have increased faster than wages.
ACORN Organiser and tenant Jonny Butcher says:
“With tenants facing a triple burden of insecurity, poor standards and already extortionate costs, Santander’s rent rise clause was making it harder for tenants to afford a home. This is another victory for renters power!”
This is a fantastic victory for the growing renters movement and will spur new tenants unions on in their fight for decent, secure, affordable homes for all.
Please contact ACORN National Organiser Stuart Melvin on 07445 804197 or firstname.lastname@example.org to arrange interviews or photos.
Community union ACORN (The Association of Community Organisations for Reform Now) is organising a powerful direct-action renters union across the UK. Our #RentersRising campaign has seen groups set up across the country, preventing evictions, winning local policy change and tackling rogue landlords. Please see http://www.rentersrising.org.uk for more info.
Living Rent is Scotland’s tenants’ union, and is ACORN’s sister organisation in Scotland. Our branches in Glasgow, Edinburgh and Aberdeen win improvements for our members. We have major policy wins under our belt, including rent controls and secure tenancies. Please see http://www.livingrent.org for more info.
NOTES FOR EDITORS:
2. Buried deep in Santander's buy-to-let mortgage contracts was a hidden term that forces landlords to "get written advice from a qualified valuer” and “take all steps to ensure that [it] leads to the maximum increase in the rent"
4. Actions are planned in:
London (Hackney): https://www.facebook.com/events/1905232116371838/
and Sheffield https://www.facebook.com/events/397425100596726