Landlords have been thrown a lifeline by the extension of three-month mortgage payment holidays to buy to let loans, but the new legislation, which is expected to be passed this week, will also prevent them from evicting tenants who run into financial difficulties during the period of the Covid-19 emergency.
Private tenants are expected to be disproportionately hit by job losses and reductions in their working hours, in addition to financial hardship triggered by illness. Now “no renter in either social or private accommodation will be forced out of their home during this difficult time,” said the secretary of state for housing Robert Jenrick.
Landlords who have no mortgage arrears can apply for a payment holiday immediately, and they can apply even if their tenants continue to pay their rent, if they are facing their own financial hardship. Lenders however will decide on a case by case basis whether to grant the holiday or not.