Mortgage holders getting 3 months amnesty, what about RENTERS?

[ssd]

Renters to get feck all.

Typical tories.

The problem is that it shouldn't be up to the landlord to decide whether to be nice about it or not. There should just be a rule that is fair and applies to everyone. We don't live in feudal times where the serfs have to sweet talk their masters to keep them in bread and butter. Or perhaps maybe we do.

Our LL also phoned us today and said we need to just call them if we're going to fall behind on payments. I found that really heartening. But I agree that might not be the case for everyone and we shouldn't rely on other people's goodness. I'll wait and see what options might be available.

Jesus this thread is awful:

Talk about referring to 'renters' as second class citizens. Most renters don't get benefits but because we don't have a huge equity in it, it's ok if we end up homeless...

Haven't RTFT as I can imagine it's depressing AF. Renters can get financial help straight away, if you have a mortgage you have to wait 9 months, and it's just a loan. The 3 months are not guaranteed, and will be made up either by overpayments (likely) or somewhere else along the line. Also not everyone with a mortgage is rich, just like not everyone who rents is on benefits.

I've advised my DD and her partner to contact their landlord to see if the landlord will take a mortgage break and allow them to be rent free for 3 months. They are both now laid off from their jobs in the film industry.

Also as he said in the speech, the measures they have already announced have been because they will be quick to implement as they are part of set processes, eg) tell mortgage lenders they must allow it. Renters is more complex and will take longer to iron out.

Usually, the mortgage payment gets added to your overall mortgage debt. YOU HAVE TO PAY IT BACK and you will have increased monthly payments after the "holiday" is over for the bank to recoup the money with interest. people avoid asking for a mortgage holiday because it can be refused and whether refused or allowed can be a "black mark" on your credit rating and cause problems for you later on down the line. (Unless mortgage holidays are a "perk" of your partcular mortgage). It's not free money or free "rent"

I wonder how Sunak's proposal will differ or if it just what already exists (ie being able to ask for a mortgage break or holiday if times are tough and you have good reason and can assure the bank you will be able to pay after the end of the holiday) and if it will no longer affect credit ratings.

Renters can get financial help straight away

No they can't, what on earth makes you think that?

We don't live in feudal times where the serfs have to sweet talk their masters to keep them in bread and butter Or perhaps maybe we do

We shouldn't have to, but everyone knows you have to bow and scrape a little.

my rent is £1050, UC doesnt pay the whole rent as they sated
" We can pay you £682.96 towards your housing. We cannot pay you the full amount as:

the amount we pay cannot be more than your Local Housing Allowance."

People who rent
People who have large credit card bills
People who have lease cars

So many things to think about.

@Mydogatemypurse
Renters get housing benefit and council tax benefit.

Really?!!! No, not all of them! I've been privately renting for six years and get neither of these as I work ft! Low income so can't get a mortgage and renting is expensive.

My son's school has closed so I will need to be off to look after him and this will almost certainly be unpaid.

@janeskettle As a renter if you lose your job (and don't have loads of savings) you can apply for JSA or UC straight away and receive a payment within weeks. Most people's last paycheck would last them the first month so there's no a massive gap. (Though taken that many tenants would need a rent reduction in order to be within the limits of local housing allowance) But owners have to wait 9 months before they get any state support with just the interest payments on their mortgage. So this move helps those with a sudden loss of income to cope.

@janeskettle pop in the exact same details bar private rental and mortgaged home on entitledto and you will see that if you are renting, even if all of the other details are the same you get more money than if you have a mortgage; you are entitled to housing benefit (or whatever it is called now). If I applied now, I would get £439.67 a month more as a renter. Otherwise I could wait 9 months and get a loan for a mortgage. Therefore if you are entitled to benefits because you are in financial hardship having been made redundant or whatever, you get extra to help pay the rent. I volunteer to help people with their applications.

Rainminusbow
You will if you are unable to work which I assumed is the situation we are talking about.
I'm agency so dont get holiday or sick pay. If and when I have to claim statutory sick as my only income I wouldn't be entitled to any help eith my housing or council tax as i have a mortgage. It's a fact. If i rented i would.

My BF's landlord makes £1400 a month in rent as it's a shared house, mortgage on the house would be £600 max and maybe £400 max bills. He already makes a profit each month so the least he can do is take a mortgage holiday and reflect that in reducing each tenants rent (to say £150 each, so it can at least be covered by SSP)

I will get £98 a week sick benefit and no other help. My mortgage is £600 and my council tax Is £120 a month. I have honestly wished I was renting at times. Not just now.

Please everyone. It's not a competition as to who is worse off.

I honestly think if you rent privately and have a less than understanding landlord it must be unbelievably worrying. Hopefully councils will be fine with those in social housing but there HAS to be some official leeway for renters.

My friend lives in London alone and has a small travel consultancy. She hasn't had a booking for 2 weeks now and no sign of anything - other than cancellations - in the immediate future. Her rent is £1700 per month and her landlord is hateful despite her being an excellent tenant who has never missed a payment during the 9 years she has been there.

I am worried sick for her as she only has enough now to last her for 2 months, if that. ☹️

Freshavacado
I agree and think there should be reductions at this time.

receive a payment within weeks

So, renter is weeks behind on rent in the meantime, and payment is highly unlikely to cover more than a % of rent.

Ll's planning on giving grace in those circumstances? The minority, if this thread is representative.

Everyone should get help with housing costs in times of need, virus or not.

There needs to be reductions and there needs to be time taken account for thr delay in waiting for benefits too which Is likely to be even longer now.

Just to add, I am certainly not saying it isn't worrying for mortgagees. I was one for 31 years before becoming mortgage free and we had some very worrying times but certainly not on this scale.

However, I did heave a sigh of relief hearing about the 3 month payment holiday which is far from ideal but at least it is something.

I would love to give my tenants a rent holiday but I have a baby on the way and can't afford to do that right now. I know it's a MN mantra that every landlord should have thousands and thousands in back up but in reality it is very rare, especially when this has been sprung on us and I'll soon be on maternity pay.

The mortgage holiday isn't automatic across the board by any means.