The government in particular from the Ministry of Housing, Communities and Local Government announced help for UK property renting businesses affected by the Coronavirus COVID19 outbreak.
The government brought in emergency legislation to protect both the UK landlords and also the tenants. This law applies to both the social and private sector properties.
3 months mortgage holiday payment for UK property renting businesses
The government foresee many people who are tenants may not be able to pay their rent during this coronavirus outbreak. For the reasons, they have to self isolate or have existing health conditions must stay at home. Furthermore, all schools in the UK will be closed until further notice starting from 23 March 2020.
In view of this situation, the government introduced the three month holiday payment for buy to let mortgages. Consequently, landlords would not be concerned about meeting the mortgage payment if their tenants were unable to pay their rents because they were unable to work.
Thereafter, tenants and landlords must work together to resolve rent payments.
Court would not accept new tenants eviction proceedings
This emergency legislation also extends to no new tenants eviction proceeding can be initiated by landlords. Hence, landlords with no buy to let mortgages may be affected.
In short, this legislation is to protect tenants from being homeless during this coronavirus outbreak.
You may read more about how the UK government would help UK property renting businesses and tenants here.
UK property renting companies legal filings
Landlords using limited company for their UK property renting business can do their legal filings online. Companies House provides web filing service facility. You may submit your company accounts and confirmation statement using this online platform. It is fast and easy to use. You would require your company’s authentication code to file online. You may contact Companies House if you have any questions or contact us if you require help with your company filings.