IMPORTANT INFORMATION FOR LANDLORDS & TENANTS
Published: 25th March 2020
IMPORTANT INFORMATION FOR LANDLORDS AND TENANTS
DO I NEED TO PAY MY RENT
We would like to assure all of our customers that the team at Barnsdales are available to help and offer signposting in this current situation with rents payable to both agents and landlords.
If you know someone who may have been affected by the recent changes please feel free to share this information as you feel appropriate.
The government has requested that banks give a 3 month mortgage holiday to those landlords that are unable to make mortgage payments. This is not free money, the mortgage payments are simply deferred with interest to be collected at the end of this crisis.
At the same time the government is providing employers with 80% wage subsidy to avoid having to lay off staff so they can continue to pay wages.
Your rent will be treated in the same way.
If you are unable to pay your rent, it will accrue during this crisis and you will need to set-up a payment plan later. You will need to contact your agent or landlord to advise them if you are or will experience difficulties in making your rent payment
In the meantime there is plenty of help available from the government, we have provided the links below, so please do start your claims for Universal Credit or Employment Support as soon as possible to avoid any delays to your payments.
Your landlord will need evidence of your claims to provide to their lender to be able to activate the mortgage holiday, so please keep them informed and forward details of your claims to avoid any unnecessary hardship to your landlord.
Here’s some helpful links which may give you some more help and advice
Self Employment & Universal Credit
https://www.gov.uk/self-employment-and-universal-credit
Employment & Support Allowance
https://www.gov.uk/employment-support-allowance
Covid-19 Small Business Government Grant
https://smallbusiness.co.uk/how-do-i-get-the-government-3000-coronavirus-grant-2549866/
Coronavirus Business Interruption Loan
https://smallbusiness.co.uk/how-do-i-apply-for-a-coronavirus-business-interruption-loan-2549863
Citizen’s Advice
Emergency Funding
https://www.stepchange.org/debt-info/emergency-funding.aspx
We hope the above clarifies matter, but if you have any further queries please do not hesitate to contact us by the usual means.
Wishing you and your families all the very best for the weeks ahead.