Rent Arrears: Covid-19

Baroness Gardner of Parkes Excerpts

Thursday 20th May 2021 Lords Chamber

[Lord Greenhalgh (Con)]

My Lords, we continue to survey this very carefully indeed. As I pointed out, although we have seen an increase, according to the survey, in the number of renters in arrears, the vast majority of them—some two-thirds—have arrears of no greater than two months.

[Baroness Gardner of Parkes (Con) [V]]

My Lords, I declare my interests as in the register. Can the Minister comment on what plans the Government have to assist small and medium landlords who are unable to recover Covid-related rent arrears and face potential enforcement action by their mortgage providers? Might the Government persuade mortgage providers to extend their overall repayment period in these cases, instead of seeking to enforce the mortgage?

[Lord Greenhalgh (Con)]

My noble friend will be pleased to know that, to support landlords, mortgage lenders have agreed to offer payment holidays of up to six months, including for buy-to-let mortgages. Although that is available only until July 2021, from 1 April 2021 there have been moves to enable forbearance options tailored to the individual landlord.