If you rent your home in Scotland or Wales and have been struggling due to coronavirus, you may find the following increased or newly introduced measures of some help at this time:
The Tenancy Saver Loan Scheme is offered to tenants who are in rent arrears or in danger of getting into arrears due to Covid-19 and will be offered at an APR of 1%, over a term of up to five years.
The funds will be paid directly to the lettings agent or landlord and there is no cap on the amount that can be borrowed. The loan repayments will however have to be affordable and can only cover arrears built up since March. You can find out more about the scheme here.
At this time landlords need to give tenants a minimum notice period of 6 months before any court action can begin. This was in place up until the 30 September, however it has been extended to 31 March 2021. See the Welsh Government website for further information.
An interest free loan scheme will be made available to tenants in Scotland who are experiencing financial hardship due to Covid-19. The details of which are yet to be announced.
In addition, the Discretionary Housing Payment fund, which helps tenants in receipt of benefits has been increased.
The current ban on evictions has also been extended up to March 2021, with the requirement of 6 months notice being provided to tenants prior to eviction during this time.
For further information on how Scotland is supporting tenants visit the Scottish Government website.
If you find yourself experiencing financial hardship due to coronavirus, do ensure you contact your lettings agent to discuss the problems you are experiencing. If you are a tenant of The Good Estate Agent please don’t hesitate to contact the lettings team on 0330 223 0670 to discuss your concerns.