The Government is introducing a three-month mortgage holiday for those people in difficult,meaning that, if you need it, you will not have to pay a penny towards your mortgage while you get back on your feet. If you are concerned about your current financial situation, you should contact your mortgage lender at the earliest possible opportunity to discuss this with them. The offer of a payment holiday can be made available to customer who are up to date with payments and not already in arrears.
This also extends to buy-to-let mortgages to protect landlords where renters might struggle to pay.
We have also introduced emergency legislation as an urgent priority so that landlords will not be able to start proceedings to evict tenants for at least a three-month period. As a result of these measures, no renters in private or social accommodation needs to be concerned about the threat of eviction.We have also announced nearly £1 billion of support for renters, by increasing the generosity of housing benefit and Universal Credit, so that the Local Housing Allowance will cover at least 30 per cent of market rents in local areas.These changes will protect all renters and private landlords, ensuring everyone gets the support they need at this very difficult time.
I would therefore urge people to contact their mortgage lenders or landlords as a matter of urgency to discuss their financial situation.
People renting with Sutton Housing Partnership should check out their advice here.
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