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Mortgages | Covid 19 and Landlords | Sandwell Council

Covid 19 and Landlords

Mortgages

Mortgage lenders have agreed to offer payment holidays of up to three months where this is needed due to Coronavirus-related hardship, including for buy-to-let mortgages. The mortgage payment holiday is not automatic, and landlords would need to apply to their lender to see whether they are eligible for this support on a case by case basis. The sum owed remains and mortgages continue to accrue interest during this period. This means that a landlord will still have to repay the money they owe for the months covered by a payment holiday. Where a tenant is unable to pay their rent in full the landlord – if a mortgagor – should discuss this with their lender.

For more information please visit the money advice page by clicking here.