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Rent prices are going up yet again
Huynha
Posts: 47 Forumite
Interest rates are going up yet again. How am I going to afford my rent when it's going up in price?
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Comments
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Huynha said:Interest rates are going up yet again. How am I going to afford my rent when it's going up in price?Rent in a cheaper location?Rent a cheaper property in the same area?Move in with a partner or friend and share the rent?Increase your income by getting a promotion/pay-rise, working more hours or getting a second job?Every generation blames the one before...
Mike + The Mechanics - The Living Years2 -
I can't move because of my job
There isn't really any properties in my area
I'm single.
I can't do it as I work 10 shifts anyway1 -
Single people can live with other single people in a shared house.
are you currently renting alone?
is your rent definitely going up?Regarding moving - can you get another job in a cheaper location?0 -
What area do you live in and how much rent are you paying per month?Huynha said:I can't move because of my job
There isn't really any properties in my area
I'm single.
I can't do it as I work 10 shifts anyway
This "I work 10 shifts". 10 shifts over what period? How many days and hours do you work a week?
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Your rent hasn't gone up, so isn't this a bit premature? if you are in a fixed term tenancy, it can't be increased anyway.No free lunch, and no free laptop
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In practice, it doesn't just depend on the landlord's interest bill. The LL can't charge more rent than tenants can afford to pay.
There must be a market rental level in the locality. Are you paying more or less than that at the moment?
No reliance should be placed on the above! Absolutely none, do you hear?0 -
Smart landlords fixed their borrowing rates a while back, is your landlord a smart landlord?Huynha said:Interest rates are going up yet again. How am I going to afford my rent when it's going up in price?0 -
just because interest rates are going up, it doesn't mean rents are going up. unless you've been served a S13, your rent will not be going up.0
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1.86 percent until 2025Sarah1Mitty2 said:
Smart landlords fixed their borrowing rates a while back, is your landlord a smart landlord?Huynha said:Interest rates are going up yet again. How am I going to afford my rent when it's going up in price?1
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