ao link
Credit Strategy homepage
Intelligence, insight and community
for credit professionals

Dear visitor,
You're reading 1 of your 3 free news articles this quarter

 

Register with us for free to get unlimited news, dedicated newsletters, and access to 5 exclusive Premium articles designed to help you stay in the know.

 

Join the UK's leading credit and lending community in less than 60 seconds.



Register now  or  Login

Unexpected rent arrears built up since pandemic hit

Landlords, letting agents and charities are calling for an emergency fund to help renters clear Covid-19 rent debts.

Share on LinkedInShare on Twitter

New research carried out by Shelter and YouGov shows 322,000 adult private renters, who were not in arrears prior to the pandemic, have since fallen behind on rent.

 

The coalition, which includes Shelter, the National Residential Landlords Association, ARLA Propertymark, Crisis, Citizens Advice and Generation Rent, is calling for a short-term package of emergency grants and loans worth £270m to help renters who have lost out on income as a result of the pandemic.

 

The coalition argues this would help both tenants keep their homes and landlords who rely on rental income for their livelihoods. They explain that it will also prevent rising homelessness. In July, debt advice charity StepChange and campaign group Generation Rent warned half a million renters may lose their homes after the rental eviction ban is lifted.

 

Chris Norris, policy director for the Nation Residential Landlords Association, said: “Whilst the vast majority of landlords and tenants have been able to reach agreements where rent arrears have built, in some cases this has proved difficult. A financial package, such as that we propose today, would greatly assist tenants and landlords to achieve what we all want, namely to sustain tenancies.”

Share on LinkedInShare on Twitter
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

Stay up-to-date with the latest articles from the Credit Strategy team

READ NEXT

Via Atal: Unlocking global growth

Via Atal: Unlocking global growth

The Budget - 2p National Insurance cut confirmed by the Chancellor 

The Budget - 2p National Insurance cut confirmed by the Chancellor 

2024 Credit 500 unveiled

2024 Credit 500 unveiled

Credit Strategy

Member of

Get the latest industry news 

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, 1-2 Paris Garden, London, SE1 8ND. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group