Covid 19 – Government support for renters and homeowners, March 2020
If people are facing difficulties they should speak to their mortgage companies or landlords. It s important to agree what to do in light of the pandemic, the government’s announcements and their own employment and financial circumstances.
Payment holidays will be offered to Help-to-Buy homeowners. There is also support for renters and homeowners during the Covid 19 outbreak. More clarity is needed, however the government has stated that, “Emergency legislation will be taken forward as an urgent priority so that landlords will not be able to start proceedings to evict tenants for at least a three-month period. As a result of these measures, no renters in private or social accommodation needs to be concerned about the threat of eviction.
Recognising the additional pressures the virus may put on landlords, we have confirmed that the three month mortgage payment holiday announced yesterday will be extended to landlords whose tenants are experiencing financial difficulties due to coronavirus. This will alleviate the pressure on landlords, who will be concerned about meeting mortgage payments themselves, and will mean no unnecessary pressure is put on their tenants as a result.
At the end of this period, landlords and tenants will be expected to work together to establish an affordable repayment plan, taking into account tenants’ individual circumstances.”
References
Ban on evictions and protection for renters