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<p>The Government recognises the cost-of-living pressures that tenants are facing,
and that paying rent is likely to be a tenant’s biggest monthly expense. To help households
with these cost-of-living pressures the government will provide support worth a total
of £108 billion between 2022 and 2025– an average of £3,800 per UK household.</p><p>
</p><p>Individuals who need help to make their rent payments may be eligible for a
range of financial support through the welfare system. The Government is investing
£1.2 billion restoring Local Housing Allowance (LHA) rates to the 30th percentile
of local market rents. This significant investment will mean 1.6 million low-income
households will gain, on average, nearly £800 per year in additional help towards
their rental costs in 2024/25. For those who face a shortfall in meeting their housing
costs and need more support, Discretionary Housing Payments and Household Support
Fund grants are also available from local authorities.</p><p> </p><p>Housebuilding
is a priority for this Government to help create a more sustainable and affordable
housing market over the long term.</p><p> </p><p>The pricing of mortgages is a commercial
decision for lenders in which the government does not intervene. Ultimately, the path
to lower interest rates is though low inflation, which is why the Government is fully
committed to supporting the Bank of England to get inflation back down to the 2% target,
and our plan is working.</p>
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