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Private renting is an essential part of a thriving society

16 January 2024 2057 Views
Private renting is an essential part of a thriving society

We believe a well-functioning housing system is one that meets everyone’s housing needs. There will always be people who can’t or don’t want to buy yet want a secure home. Today the private rental sector provides one in five homes in the UK*.

At The Mortgage Works, we believe Landlords sit at the heart of a thriving rental market, with a social responsibility to provide decent places for people to live. Therefore, it's important we support landlords operate effectively and help them easily understand their responsibilities.  

The need for responsible, society-focused landlords has never been more important

On 15 December 2022, the government published its 2021-22 English Housing Survey headline report, which provides an overview of people’s housing circumstances in England. On households, main findings from the report show that the private rental sector has doubled in size since the early 2000s. Growth has resulted in greater variance of the reasons private renters choose to rent and their needs.

In addition, private renters represent a diverse range of people playing important roles in our society and driving our economy, and look to landlords to provide homes to suit their needs:

•    32% have children
•    30% have a long-term illness or disability
•    78% work, most (68%) in full-time employment
•    Average household size of 2.3 people
•    Average length in current property of 4.4 years

Our commitment

Nationwide Building Society is a significant force in the private rented sector through The Mortgage Works. We’re committed to influencing policy and championing landlords to ensure the private rented sector works effectively.

Nationwide Building Society aspires to provide homes for people with various needs. The provision of good private rented homes should be no different. Landlords and tenants shouldn’t experience the stigma around renting privately and it must be given equal billing.

We will work to:

•    Champion and support landlords
•    Take a market-leading approach
•    Influence government
•    Shape the rental sector for the better

Read more about our commitments to improving the private rental sector.

*Source: Gov.uk English housing survey 2021 to 2022 published 15 December 2022                                                                                                                                           

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