Mortgage Holiday Extended to BTL Sector, No Evictions For 3 Months Due To CV-19

Date Published 18 March 2020

Due to spread of Coronavirus and many people either going off sick , into self-isolation or being laid off, Boris Johnson today announced his intention to legislate to ban new eviction proceedings for the next three months and support tenants who are struggling to pay rent as a result of Coronavirus.
That means no evictions for 3 months where arrears are due to job losses or childcare issues specifically relating to the virus.

Following the outcry from private rental sector, the Chancellor Rishi Sunak extended mortgage holiday to buy to let mortgages. This means that if landlords are not getting income from the tenants, they will not be penalised by their lender.

Landlords are asked to consider making contact with their tenants to discuss any potential difficulties in paying the rent and hopefully come to an agreement with any missed or reduced payments. A positive relationship with your tenant may mean receiving a reduced payment rather than no payment. If you are a landlord who is paying us for fully managed or rent collection service, we handle all the negotiations with your tenants on your behalf to come to mutually agreeable arrangements.

It may also be worth making contact with your mortgage provider as soon as possible for clarity on their individual positions on this issue. Tax break discussions should be held in advance where possible for preparations or applications to be completed.

We are a licenced member of Propertymark ARLA (Association of Residential Letting Agents) and I am daily following their updates that are coming directly from the Government.
Please rest assured we have your interest in our hearts whilst assuring we are fulfilling our duty of care to your tenants.

If you have any concerns or queries, please do not hesitate to contact me or our office number on 01608 695252.

Sarka Wilde, ANAEA MARLA
Managing Director