NatWest Branches Closed on No DSS Buy to Let Protest

Natwest was forced over the weekend to close branches due to protests at several of their branches.  The protest was over the lender not accepting buy to let mortgage applications from landlords that plan to accept tenants claiming housing benefits living in their properties.  In short “No DSS”.

Protestors said they will continue to demand lenders drop their No DSS requirement from their underwriting criteria.  Securing quality housing is difficult enough for low income families and this is seen as a barrier to people securing accommodation when on benefits.

Since the protest Natwest had said they will look into amending their criteria.

Comment

This is all well and good.  We accept that there are many upstanding people on benefits who look after properties and indeed add value to them by decorating or even making improvements.  Likewise, there are many that do not.  The big question:  Will the ‘DWP’ (the new name for the DSS) or these protest groups then compensate landlords when rents go unpaid or when properties are neglected?  We have all seen horror stories in newspapers and on television where tenants have ‘trashed’ rental properties leaving landlords £000s out of pocket.   Either way, whether it is a negligent landlord or a negligent tenant, both never seem to be forced to accept responsibility for their actions.