05 May 2020

Landlords can apply for Covid-19 loans from today

Landlords can apply for Covid-19 loans from today

A £5million fund will offer interest-free loans to landlords whose tenants are having difficulty paying rent during the coronavirus (COVID-19) crisis.

The Private Rent Sector Landlord COVID-19 Loan Scheme will offer eligible landlords up to 100% of lost rental income for a single property.

It will support private-sector landlords who are not classified as businesses, have five or less properties to rent and have lost rental income due to tenants unable to pay rent as a result of the COVID-19 pandemic.

Details of the scheme, including how to apply, can be found by clicking here.

Support

Launching the scheme today, Housing Minister Kevin Stewart said: “We want to ensure no one loses their home during this unprecedented public health pandemic which is why we passed legislation to protect tenants against any eviction action for six months.

“This new £5 million loan fund builds on that action and offers landlords the same security as tenants, ensuring they have financial support if tenants struggle to pay rent because of coronavirus.

“While all tenants should pay their rent if they can, we recognise the financial pressure people are facing. The Scottish Government encourages landlords to talk to their tenants about rent payment issues. We also expect landlords to be as flexible as possible with their tenants, discuss managing rental payments and help them find sources of financial support and advice.” 

Reaction

Chief Executive of the Scottish Association of Landlords (SAL) John Blackwood said: “We are pleased the Scottish Government has taken this first step in helping the private-rented sector weather the effects of the COVID-19 pandemic, which recognises the role private landlords play in the housing system.

“Collectively the housing sector needs an approach that protects all parts of housing in Scotland to guarantee we can provide the different types of quality housing we need. 

"We want to continue to work with the government, as well as other public bodies, trade bodies and charities to ensure to achieve that and hope there will be further steps taken soon.”

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