Rent holiday whilst waiting for mortgage

[Deleted User]

That's a very good point, I don't think there is (officially) one for tenants. So it's essentially goodwill being relied upon, which makes it even more important to use it appropriately!

Some landlords will tie it to the mortgage - so once tenant asks for a holiday, they'll then request BTL payment holiday, and that would be limited to 3 months (currently). So any tenants taking the mick are potentially putting landlords in a very hard position if it goes on for longer. 

dimbo61

Landlords asking for mortgage payment holidays would go into arrears on the mortgage and increase the debt owed 
This would effect their credit rating and mean they could not change mortgage lender or get a cheap deal.
No such thing as a free lunch and rates will increase after this Pandemic.

[Deleted User]

MovingForwards said:

Can anyone link to evidence there's a "3 month rent payment holiday" as all I can see is the suggestion the tenant / LL speak with each other if there are financial difficulties and come to an agreement.

There's a halt on evictions at the moment.

No one can link to it because it doesn’t exist. However, court hearings for possession orders have been temporarily suspended so if a tenant can’t/won’t pay the rent just now there’s very little a landlord can legally do. The rent is still legally owed on time as per the tenancy agreement. There’s some information in G_M’s sticky about the timings for Section 21 notices being issued during the lockdown. 

MovingForwards

@Lover_of_Lycra I knew it didn't exist, what people are doing is mixing up the potential options for homeowners and tenants.

I expect the courts to be very busy when things start back up again and a lot of tenants will be complaining about being evicted, when they mistakingly thought there was a rent holiday and how they would have paid their rent had they known.....