TSB forced to close branches across UK after protests over mortgage ‘policy’

A major bank has been forced to close up to 30 UK branches after furious mortgage protests. TSB branches across the country had to shut when protesters took action against the bank’s buy-to-let mortgage policy.

The bank has faced protests in Bristol and Brighton, with some branches occupied, while demonstrators have erected tents outside branches in the capital city, London. TSB gives out a buy-to-let mortgage only if the borrower agrees to give tenants contracts of no more than 12 months.

Housing action group Acorn said: “Renters need stability and security.” ACORN said: “For five years, the Government has promised to end ‘no fault’ evictions but hasn’t delivered. Bankers profit from the housing crisis. We’re taking action!

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“TSB’s buy-to-let mortgages limit tenancies to 12 months, kicking renters out yearly. We urge TSB to provide renters with stability. TSB staff are calling the police and fleeing. For five years, the Government has promised to end ‘no fault’ evictions but hasn’t delivered. Meanwhile, bankers profit from the housing crisis. We’re taking action for renters’ rights!

TSB’s buy-to-let mortgages limit tenancies to 12 months, forcing renters to move yearly. We call on TSB to end this stress and provide renters with needed security and stability. TSB is an outlier, as most banks allow longer or unlimited tenancy contracts. We urge TSB to remove limits on contract lengths to give renters better protection, security, and stability.

“Dear TSB, you’ve been very sneaky,” it added on Facebook in a status. “Your Buy to Let mortgage terms only allow one-year tenancies, turning renters into annual eviction contestants. Now you’re hiding and don’t want to explain. What’s next, vanishing like a magician?,” it asked.

The action group is calling on the bank to change its policy so there is no limit on the lengths of its buy-to-let tenancy contracts and says this would protect renters from no-fault evictions and rent rises.