Help for Landlords

The government has confirmed that landlords will also be able to apply for a mortgage payment holiday.

The Prime Minister did not make the announcement in his daily press briefing this, but he confirmed that tenants would get protection against eviction.

Soon after the conference the Ministry of Housing, Communities and Local Government announced on Twitter that mortgage forbearance would be extended to landlords.

The development came after UK Finance stated earlier today that the three-month payment holiday “currently” only applied to residential borrowers.

However, Boris Johnson hinted that landlords might get protection during Prime Minister’s Questions when asked about the eviction of tenants.

He said he wanted to ensure that the problems were not pushed on to “other actors” in the economy.

Thousands of landlords have opted to take out buy-to-let mortgages through limited companies in a bid to avoid the government’s tax clampdown.

UK Finance has confirmed that the measures will apply to landlords who have structured their loans in this way as well as those who have borrowed in their own name.

The decision of the government to take the strain off landlords, too, shows a joined-up strategy that will hopefully get homeowners, tenants and landlords through these extraordinary times.

If you are looking to secure a new or re-mortgage please do make contact and one of our independent advisers will be happy to assist.