Has your property left you in a sticky situation?
As I am sure you are all aware the UK Government has been taking action and bringing in many temporary measures to assist UK citizens during this crisis.
What you may not be aware of is that the UK Government accidentally published changes to abortion law on Monday. These were supposedly approved by the secretary of state for health and social care, only for the changes to be deleted 5 hours later with the only explanation being “This was published in error. There will be no changes to abortion regulations.”
Now one of the new changes that has not been published by accident (so we hope!) is that renters cannot be evicted for an initial period of 3 months and there is every chance this will be extended.
So the question is, what impact does this have on landlords? If you’re not receiving rent and cannot evict a tenant are you still liable to make your mortgage payments?
It has been made clear by the government that no tenant who has lost income due to COVID-19 will be forced out of their property, nor will any landlord face unmanageable debts.
However, in addition to the eviction prevention measures, landlords whose tenants are experiencing financial difficulties as a result of COVID-19 will also be given a 3 month mortgage protection holiday.
This hopefully reassures renters and landlords that their property is one thing they don’t have to worry about for the moment.