Nuneaton Landlords- If you get hit with COVID 19 you might be supported by your mortgage lender!
You may have read my blog last week about the clever clogs who suggested that landlords provide a 3 month rent free period to their tenants if they are unlucky enough to get the COVID-19 virus and just take the financial hit (more like Thor’s hammer to the face!).
Well, I read today that lenders are looking to support their clients by offering a 3 month holiday from mortgage payments if they are affected by the virus. At the moment it is only RBS but other lenders are likely to follow suit.
The article by “The Negotiator” states that “With the fallout from COVID-19 likely to last many months, and some experts predicting another financial crash, the speedy move will go some way to maintain confidence in the market.” I am inclined to agree with this and say “hoorah” to the sensible lenders who are good enough to support their clients…and the economy as a whole!
I hope this doesn’t affect any of our readers and I hope you all stay safe and healthy over the coming weeks/months. Elbow bumps to all of you.