Today (18 March) MHCLG announced a complete ban on renters being evicted from their homes for three months during the coronavirus outbreak. The ban applies to both private and social renters and will work in conjunction with the three month mortgage holiday for homeowners announced by the government yesterday.
Following the three months (if it is not extended), landlords and tenants are expected to work together to agree upon an appropriate repayment plan for any payment due. We expect further details to emerge on how this will work.
The legislation to allow this will be brought forward by the government as a priority.
Gary Orr, Chief Executive, Radian Group said;
“This is a welcome move by the Government which will reassure many people at a time of great uncertainty.
“At Radian we have already made it clear that we will not initiate eviction or legal proceedings while our customers are experiencing difficulties as a result of Covid-19 and subsequent economic implications. Our goal is always for customers to maintain their tenancies and our dedicated Tenancy Sustainment Team will continue to provide ongoing support.”