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TSB banks shut down across the country in day of action

Today ACORN took action at 30 TSB branches across England and Wales in protest at the banks buy-to-let mortgages which are causing insecurity for renters.

Hundreds of union members marked our 10th birthday by marching on branches, delivering letters to managers and holding stalls and handing out leaflets to engage the very supportive public. TSB branches were occupied, with many closing for the day as a result of the protests. 

In Brighton, around 100 members took part in a march and played a game of ‘renters wheel of misfortune’ outside, while 2 branches in Bristol were occupied simultaneously. In Leeds, members put up tents and in Tottenham members constructed a cardboard city, highlighting the link between the policy and homelessness. Meanwhile inside the Manchester branch, a mock eviction (and signature ACORN eviction resistance) took place.

Further actions and outreach events took place in Birmingham, Bradford, Cardiff, Coventry, Darlington, Derby, Falmouth, Frome, Gloucester, Huddersfield, Ipswich, Liverpool, Milton Keynes, Newcastle, Norwich, Nottingham, Portsmouth, Preston, Sheffield, Stoke, Swansea, Swindon, Wigan, Witney and York. 

The union is calling on TSB to change their terms and conditions in buy-to-let mortgages that stop landlords from offering more than a 12 month contract to their tenants, so there is no limit on the lengths of tenancy contracts, allowing renters greater protection, security and stability.

TSB is the only major bank offering buy-to-let mortgages with a rule limiting landlords to giving just 12 month tenancy contracts.

By doing this, TSB are putting renters in a situation where they have to renegotiate their living arrangements and sign a new contract every single year, or have to put their lives on hold and spend lots of money to move home.

Once a fixed term 12 month contract ends, tenants will either go onto a rolling contract (where there conditions can be changed by the landlord month by month), sign another fixed term contract (but have to renegotiate terms like the rent) or they might be evicted. This means they are more vulnerable to ‘no-fault’ section 21 evictions, a leading cause of homelessness in England, and unaffordable rent increases.

Eleesha Taylor-Barrett, a renter and ACORN board member said: “TSB’s policy means that renters across the country are facing rent hikes, eviction and the stress and cost of trying to find a new home every 12 months, all during the housing crisis.”

“As a renter who’s moved 5 times in the last 5 years, I know first hand the level of uncertainty these insecure tenancies can bring.”

“ACORN will continue to fight for rental reforms that will deliver the changes we desperately need, but we can’t sit around and wait for the Government as it drags its feet, renters need stability and security now!”

“That’s why we’re taking action today, calling on TSB to drop this unnecessary rule, taking an immediate step towards better security for renters.”


You can take action too!

Click this link to send an email to TSB CEO, Robin Bulloch now!

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