COVID-19 - Mortgage Holiday
The government announced a three-month mortgage payment ‘holiday’ to help those in difficulty as a result of COVID-19. Personal credit ratings for delaying payments for up to three months will not be affected. The repayments would still need to be made in the future and interest would still be payable.
On 18th March 2020, the government announced emergency legislation to suspend new evictions from social or private rented accommodation while this national emergency is taking place.
No new possession proceedings will commence during the crisis. Landlords will also be protected as the three-month mortgage payment holiday includes Buy to Let mortgages.
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We'll explain the resources available to you and your business.
- Job Retention Scheme
- Deferring VAT payments
- Deferring Income Tax payments
- Business Tax – Time to Pay Scheme
- Statutory Sick Pay relief package for SMEs
- Business rates holiday
- Grant funding for all business in receipt of small business rate relief or rural rate relief
- Grant funding for retail, hospitality and leisure businesses
- Business Interruption Loan Scheme
- Bank of England lending facility
- Increase to Working Tax Credits
- Universal Credit
- Mortgage Holiday for 3 months.
- Insurance Cover
Follow us for an explanation of the latest government updates.