This is one of what may be a number of codas to a story featured a couple of weeks ago. Home REIT (Real Estate Investment Trust) was set up to invest in social housing, in our great world of privatised everything. They borrowed to buy and were hit by interest rate rises, just like many private buy-to-letters. The nature of their tenants, however, means that those tenants are suffering more than most from, in particular I’d guess, 19% food-price inflation, and so 87% aren’t paying their rents. They company has apparently ‘developed a number of initiatives’ to improve rent collection; I wonder what those could be? Although this will doubtless hit the investment managers’ bonuses, it will be those turfed out when the forced sales come around who suffer most. And ultimately the cost will bounce back to the government, who should never have tried to get shot of it in the first place.
“Brokers respond to Money Box presenter’s comments on finding a broker”
According to Paul Lewis of the BBC’s MoneyBox programme, to get a good deal,you should go to a big, national company, rather than a broker ‘over the local cab shop in the high street’.
