Could you benefit from repaying your mortgage early?
The average homeowner will be 57 before they’re able to fully repay their mortgage, so paying off the debt early is a desirable financial goal.*
If you have any concerns regarding your tenancy, please contact your local branch on 0208 487 9090.
Or if you are looking to move during the pandemic, find out about our virtual viewings here.
You are still liable for your rent and should pay this as usual. If you are faced with financial hardship as a direct result of the coronavirus outbreak, get in touch and start a conversation with us about this early.
The Government has urged banks and lenders to offer mortgage breaks to landlords. It is important to note that these ‘holidays’ are temporary and lead to higher mortgage payments later on. In other words, your landlord is still liable for their mortgage payments and if a mortgage holiday is applied for and accepted, it does not save them any money in the long run. These breaks are introduced to provide short-term flexibility in any cases of financial hardship created by the pandemic.
Start an open conversation about this early. We are approaching any cases where a tenant’s situation has changed as a direct result of the pandemic on a case by case basis and will work with you and your landlord to come to the most suitable agreements in these circumstances. We urge both landlords and tenants to use this as an opportunity to strengthen the relationship, showing a level of pragmatism and empathy.
Landlords are encouraged to treat eviction as a last report. Begin a dialogue with your property manager as soon as possible in order to come to an agreement that avoids this. Refer to our guide for landlords for more information.
In the unlikely event that the situation does progress to eviction, your landlord is legally obligated to serve a minimum of three months’ notice before evicting, regardless of the original terms in your contract. So your landlord cannot apply to begin the court process of evicting you until after this three month period.
This measure implemented by the UK Government is currently scheduled to remain in place until 30th September 2020. All cases currently in the court system (27th March 2020) have also been closed, meaning that cases currently in the court system and those about to go into it, cannot progress to the stage where someone could be evicted from their rented property.
If you have coronavirus and are required to stay at home, let us know straight away so that we can make necessary arrangements, – 020 8878 4277. A valid notice will bring the tenancy to an end as usual but exceptions will be made to those who are having to self-isolate.
In line with Government guidance, we will continue to visit the property for inspections and arrange contractors to visit for essential maintenance only, including gas safety tests, water supply, sanitation and heating. Your landlord has a legal duty to meet these responsibilities and the Government has made no allowances here.
When visits are required, our contractors will follow the rules of social distancing to minimise health risks to you and themselves.