My pick of last week’s news is the Resolution Foundations’ report on rent arrears: Tackling the UK’s building arrears crisis.
Graph of the week
In our thought experiment, we apply the growing housing arrears and apply it to see what it could mean for the courts resolving such issues. Bluntly, the courts will be put under severe strain, causing further problems for renters and landlords alike. https://t.co/iWpKAheh5a pic.twitter.com/KiLih7ZzHM
— Resolution Foundation (@resfoundation) February 16, 2021
Broadband credit score mistake ‘cost me £3,500’ BBC: He called up Virgin Media, it realised its mistake, apologised and said it would update databases held by credit reference agencies straight away which would fix the problem in just a few days. But that didn’t happen.
- Getting ahead on falling behind – Tackling the UK’s building arrears crisis Resolution Foundation: action is also required to mediate effectively between those who owe and are owed, and to help families reduce their housing arrears via both grants and loans.
- Chancellor must act to tackle rent debt crisis Joint statement by The Big Issue Ride Out Recession Alliance, Crisis, Citizens Advice, Joseph Rowntree Foundation, Money Advice Trust, The Mortgage Works, National Residential Landlords Association, Nationwide Building Society, Propertymark, StepChange Debt Charity and Shelter.
- Let’s create better Debt Relief Orders We Are Debt Advisers: Our response to the Debt Relief Order consultation calls for the abolition of the fee, debt limit, and an increase to the vehicle asset limit. Please read, and sign in support by 25th Feb.
- A fresh start — why creditors should back a better Debt Relief Order CAP blog: Our call to reform DROs is not about making solvent individuals insolvent. Rather, it is a call to smooth the road for those who so desperately need a DRO, to enable them to access one.
Clause 34 – Statutory Debt Repayment Plans and “fair debt write-down” Centre for Responsible Credit: the total value of debt purchased by [debt collectors] in 2018/19 was £55.6 billion.
Mortgages for 10% deposits flood back with 117 new loans launched this year – but first-time buyers are still worse off than pre-pandemic Mail: The average two-year fixed rate mortgage with a 10 per cent deposit now has an interest rate of 3.56 per cent, almost one percentage point more than in February 2020.
Benefits & other news
HMRC’s use of criminal prosecutions for tax fraud and other revenue crimes. A comparison with benefits fraud. Taxwatch: tax fraud costs the Treasury nine times the amount lost to benefits fraud.
One in six new universal credit claimants forced to skip meals Guardian: Our evidence suggests that even with the £20 uplift benefit levels are inadequate.