Coronavirus assistance and shared ownership

NuckingFuts

My question is, given mortgage companies are helping with payment holidays application fast tracking; does anyone know if shared ownership residents/leaseholders are able to ask for a rent payment holiday/freeze for three months? 

Thanks
NF

gettingtheresometime

You can always ask but I would imagine the answer will be no. It's worth remembering that the mortgage holiday only means that the mortgage company won't expect a payment for 3 months & will continue to charge interest & will probably adjust either the term or future payments to cover this   'holiday'

unforeseen

And as for rent holidays/freezes I don't think anybody is even considering it apart from the odd small LL who they have a very good tenant/LL relationship with their tenant. 

PixelPound

gettingtheresometime said:

You can always ask but I would imagine the answer will be no. It's worth remembering that the mortgage holiday only means that the mortgage company won't expect a payment for 3 months & will continue to charge interest & will probably adjust either the term or future payments to cover this   'holiday'

I think this is often misunderstood and some think the government makes the payment. You are paying 3 months additional interest for the privilege of having a payment holiday (e.g. extend your term by 3 months). There have been surprised comments by some who have requested such a holiday and been told that the missing payments have to be made back over a few months afterwards.

OP, if you can't afford to pay the rent portion, is that with a Housing Association, have you contacted them to see what options they can give? If they said you didn't pay but put your rent portion up for the next 9 months by a third to get the 3 months back and then an increased 10th month to cover interest incurred from allowing you to not pay them, would that be okay, or you expecting rent-free?