We are writing this to let you know that we are here to offer help and advice, and would like to clarify the situation with regards to your rent.
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 we will need to set-up a payment plan later. 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 your agent and landlord informed and please forward details of your claims to avoid any unnecessary hardship to your landlord.
Above all, please stay safe.
Self Employment & Universal Credit
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
If you would like to discuss further please do not hesitate to get in touch.
Phone: 0345 257 9850