We’re delighted to announce that following ACORN’s day of action on Saturday, TSB have agreed to drop a rule in their buy-to-let mortgage policy that causes insecurity for renters!
Following actions at 30 branches & hundreds of people taking part in our online action, we met with TSB at their London HQ on Wednesday. We’re pleased to say that after positive negotiations they will be changing the rule in their mortgages that limit tenancy contracts to 12 months.
Together, we’ve changed that.
TSB have agreed to extend the 12 month limit in their buy-to-let mortgages to a 3 years, which provides much more security and stability for renters, and they have also agreed to investigate and continue dialogue about making this open-ended.
That we got this high street bank to the table, and making this decision, within just a few days of our action is a clear demonstration of strength we have when we take organised, collective action.
"TSB ending their unfair practice against renters shows that when we come together we win. Action was taken by our members - normal people all up and down the country from Portsmouth to Newcastle, ages 1 to 80 to demand insecurity for renters ends. It is so inspiring that normal people can take on a bank and win. Things can change and they will if we come together. Never been prouder to be apart of our amazing union ACORN." Chelsea Philips, ACORN National Chair
There is power in the union - join us!