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Coronavirus (COVID-19) financial support for landlords, renters and homeowners

This guide provides a list of all the relevant financial support that can help you during the Coronavirus pandemic, whether it’s income support, help with household bills, updates to your tenancy rights or pauses on your mortgage repayments. It outlines them all and tells you where to go for more information.

Last updated 7 Jan 2021.

Income support including sick pay

Statutory Sick Pay (SSP) is now available from day one from staying home from work and is available if either you have symptoms of COVID-19 or you are isolating due to a family member having symptoms.

Universal Credit payments have been raised and the income floor has been removed making more people eligible.

Employment and Support Allowance for those who are ill, have a health condition or disability that prevents them from working longer term.

Coronavirus Job Retention Scheme allows companies to retain their employees and pay them up-to 80% of their monthly salary. UPDATE 10 NOVEMBER: The Government has confirmed that the scheme will now continue until the end of April 2021.

Self Employed Income Support Scheme (SEISS) comprising a taxable grant of up to 80% of average profit for self-employed workers.

Financial support for businesses

Bounce Back Loans are still available for small and medium-sized businesses to borrow between £2,000 and up to 25 per cent of their turnover. There will be no interest to pay for the first 12 months of the loans. Applications close on 31 March 2021.

Deferral of VAT payments is still an option. Businesses that took advantage of the VAT deferral earlier in the year can now arrange to pay in interest-free instalments over a longer time period up to March 2022, instead of March 2021.

Mortgages, loans and household bills

Mortgage Lenders will provide six-month mortgage payment holiday including Buy to let mortgages. The deadline to apply for this is 31 March 2021.

£500m Hardship fund for council tax relief for those most vulnerable.

Most banks have committed to offering Loans and Credit Card payment holidays.

Majority of energy and water companies have rolled out schemes to help during the outbreak, including posting free top-up cards and organising payment breaks.

Renters support

Change to eviction rules — the notice period for evictions has now been increased to six months in England and Wales and there is a ban on evictions until 31 March 2021 in Northern Ireland and Scotland.

Increase in Housing Benefit and Local Housing Allowance raised to 30% of market rents.

Landlords remain legally obligated to ensure properties meet the required standard – urgent, essential health and safety repairs should be made.

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Read this guide to learn more about the support available to renters.

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Keep up to date

For the latest guidance on how to operate safely while working within the housing market or if you are looking to move home, go to our Coronavirus help page.

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