With all the changes and uncertainty that is happening due to Covid-19, the Government have announced measures to protect renters and landlords who are affected. As such, no renter in either social or private accommodation will be forced out of their home during this time.
Legislation is being put into place which will ensure that landlords cannot start proceedings to evict tenants for at least a 3 month period (currently) so that no renter needs to worry about the threat of eviction during these challenging times.
The Government in protecting tenants, have also recognised the pressures that Covid-19 will put on landlords. They have confirmed that landlords are also eligible for a 3 month mortgage payment holiday on their buy to let mortgages, where their tenants are experiencing financial difficulties due to Covid-19. This means that no unnecessary pressure will be put on tenants due to the landlords own concerns about meeting their own mortgage payments.
The Government, however, expects at the end of the 3 month period that both landlord and tenant are to work together to establish a repayment plan that is affordable and for the landlord to take into account their tenants’ individual circumstances.
Housing Secretary Robert Jenrick MP said:
“The government is clear – no renter who has lost income due to coronavirus will be forced out of their home, nor will any landlord face unmanageable debts.”
“These are extraordinary times and renters and landlords alike are of course worried about paying their rent and mortgage. Which is why we are urgently introducing emergency legislation to protect tenants in social and private accommodation from an eviction process being started.”
“These changes will protect all renters and private landlords ensuring everyone gets the support they need at this very difficult time.”
The Government will also be issuing guidance which asks landlords to show compassion and to allow tenants who are affected by this to remain in their homes wherever possible.
Here at Bromleys, we are keeping up to date with these fast paced changes. If you have any questions or queries please do not hesitate to get in contact.
Call our dedicated Buy to let helpline on 0161 694 4155 for assistance.