The widespread financial impact of coronavirus means that many tenants are struggling to pay their rent – both in the commercial and residential sector. In response to this, the UK government has introduced a number of measures to protect landlords and renters during this difficult time.
All evictions have been suspended for the next three months. To cover any short-term losses during this period, landlords can apply for a three-month payment holiday on their Buy-to-Let mortgages. Tenants are still liable for rent owed, but the measures taken by the government to protect incomes should mean rent will continue to be paid – though possibly after a short delay while these measures come into effect. More information can be found on the government website.
Our free legal helpline is still open to help answer any questions you have during this uncertain time. Please check your policy documents for contact details, which can be found in your online account.
No. If you’re a residential landlord through AXA Commercial Direct, you do not need to update your policy records at the moment – we understand that a tenant’s status could change a number of times during this difficult period. Once the current crisis is over, we’ll ask you to make sure your records are up-to-date.
We know this is a deeply worrying time for you and your tenants. If you’re struggling to keep up with your monthly payments due to coronavirus, call us – we may be able to help. Our phone lines are extremely busy so it might take longer than usual to get through, but please bear with us.
Our free legal helpline will also remain open to help answer any questions you have. Please check your policy documents for contact details, which can be found in your online account.
No. Our loss of rent cover is designed to protect rental income following damage at the rental premises. The policy covers loss of rent from things like floods or fires but does not apply to pandemics or infectious diseases, such as coronavirus.
We understand this is a difficult time for landlords and tenants alike. The government has introduced a set of measures to help landlords and renters over the next few months. This includes suspending both evictions and mortgage payments for a 3-month period – details of which can be found on the government website.
