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Grampa

Landlords will also be protected as 3 month mortgage payment holiday is extended to Buy to Let mortgages

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"Recognising the additional pressures the virus may put on landlords, we have confirmed that the three month mortgage payment holiday announced yesterday will be extended to landlords whose tenants are experiencing financial difficulties due to coronavirus. This will alleviate the pressure on landlords, who will be concerned about meeting mortgage payments themselves, and will mean no unnecessary pressure is put on their tenants as a result."

 

https://www.gov.uk/government/news/complete-ban-on-evictions-and-additional-protection-for-renters

 

Not sure if this includes landlords whose rental properties are within a Limited Company.

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'Every little' of course.

Some LL's enjoy rental income as an extra income, that becomes more important if their main revenue source dries up is will happen to many T's.

For those that use it as a pension there is risk when the LL's cash reserves dry up.

We shall very shortly be unable to repossess a property, in truth there would be little point anyway. The availability of financially healthy T's is going to be very limited, and to try to sell, well as RL recognises that's not a healthy situation either.

The problem here is the encouragement for T's to take a payment holiday. Many will most definitely need this, but for many LL's there needs to more consideration than a mortgage break. Additional charges and possible additional claims will remove recovery potential for them.

There is going to be a lot of pain, emotional and financial. We are still in the very early stages and seeing knee jerk attempts to keep things even. I feel it's far too early to predict very well, but I do feel that cash will be king here. Comptons took all mine so I'm stuffed.

 

 

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