What does the extension on the eviction ban mean for me?
The Government has extended its ban on evictions in England and Wales by a further two months meaning new evictions of tenants in both social and privately rented accommodation will be suspended until 23 August.
The extension means eviction proceedings will in effect not be able to start up before 1 September 2020. More information can be found on the government's press release which was published on 5 June.
There is however some welcome news for landlords. Currently those struggling to pay their mortgage due to coronavirus will be able to extend their payment holidays for three more months (until 31 October) or start making reduced payments. Buy-to-let mortgages are not technically covered as they are not regulated by the FCA. Yet if a lender is regulated for its residential mortgage business, the FCA will also look at how these firms carry out their unregulated buy-to-let business, so it's hoped that some mortgage lenders will offer the extensions to their landlord customers too.
Our credit control team have continued working hard throughout this whole period with our landlords & tenants to help ensure issuing notices for non payment of rent and subsequent court action is an absolute last resort. We have achieved this by being proactive with our tenants working through all the options available to ensure they don’t put themselves in a position where they could risk losing their home. We also put proactive contingencies in place with our landlords before potential problems arose to help in the event of a payment issue. Speak to our experienced team today about our approach and how we differ from other agents to minimise the likelihood of eviction.
