Mortgages  

Govt extends mortgage payment holiday to BTL

“Ultimately, landlords will still have to pay as this approach is a deferral, not a let off. How will they recoup the rent if tenants are unable or simply refuse to pay it?” 

The developments come after chancellor Rishi Sunak announced on Tuesday a £330bn war chest of loans to protect businesses against the financial difficulties caused by the coronavirus.

He also announced mortgage lenders would be forced to provide up to three months' relief from mortgage payments to consumers who needed it.

This dwarfed the £30bn of government funds announced at the Budget last week.

Meanwhile the spreading coronavirus crisis has caused global markets to tumble as governments across the world shut their borders, locked down domestic travel and closed sports and leisure facilities.

The prime minister has urged everyone to avoid unnecessary social contact, to work from home where possible, and to stay away from pubs and restaurants.

Schools will be shut from Friday afternoon onwards and will remain closed until further notice except for children of key workers and vulnerable children.

Examples of these workers include NHS staff, police and supermarket delivery drivers who need to be able to go to work to support the country’s fight to tackle coronavirus. 

amy.austin@ft.com

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