Money Box Live: Resenting Renting?

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 1 May 2024

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

April is a big month for our finances, some bills go up and one or two even come down.

A big relief for many households will be the that energy prices are dropping, but one bill that is still going up is rent.

UK rent prices rose 9% in the 12 months to February.

Research shared exclusively with Money Box Live has revealed you're more likely to be in your overdraft if you're a renter compared to people with mortgages. You're also less likely to have savings to fall back on in an emergency.

Meanwhile government plans to scrap no fault evictions for tenants in England have been delayed. Neither tenants nor landlords are happy with the current position.

Felicity Hannah is joined by Sarah Pennells, Consumer Finance specialist at Royal London, Dan Wilson Craw, Deputy Director at Generation Rent UK, and Richard Donnell, director of research at the property platform Zoopla.

Presenter: Felicity Hannah Producer: Neil Morrow and Sarah Rogers Reporter: Eimear Devlin Editor: Jess Quayle

(This episode was first broadcast on the 3rd April 2024)

Transcript

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0:00.0	On a winter's night in 1974, a crime took place that would obsess the nation.
0:07.0	It was an extraordinary news story.
0:09.0	The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny,
0:14.0	mistaking her for his wife, then somehow just disappeared.
0:18.0	One of the great mysteries in English criminal history. We're still looking for Lucan.
0:21.6	It's honestly one of the most powerful stories of my lifetime.
0:25.6	I'm Alex von Tundselman.
0:26.6	This is The Lucan Obsession.
0:28.6	Listen on BBC Sounds.
0:30.6	BBC Sounds, music, radio, podcasts.
0:35.6	Hello, there are lots of big changes to our finances this month.
0:40.0	Some bills go up, one or two even come down, so energy prices are dropping but council taxes on the way up,
0:46.1	and so are most people's phone and broadband contracts.
0:49.2	But this Moneybox Live podcast is for renters because that one big bill has been rising at a record level.
0:56.1	UK rent prices rose 9% in the 12 months to February. So if you're renting at the moment,
1:01.6	how are your finances looking? And do you feel secure in your home?
1:05.5	It's harder than you'd think when you lose your place of abode. You don't just lose your flat, but you lose your community,
1:16.4	your contact with your friends. And it's quite tough.
1:22.5	Yes, being a renter can have an impact on your finances as well. Research shared with
1:26.7	Moneybox Live has revealed
1:28.3	you're more likely to be in your overdraft if you're a renter compared to people with mortgages.
1:32.9	You're also less likely to have savings to fall back on in an emergency. Now, the average age
	...

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