Government to provide adequate economic assistance to landlords during COVID-19

Rejected 21 signatures

What the petition asks

UK small scale landlords, are facing an unprecedented challenge and still incurs high cost mortgage payments to their lenders, plus other associated costs.
The response of the banking sector to this crisis in the rental sector has been completely inadequate. Banks offer just a payment 'holiday',

but with accrued interest payable immediately on completion of the 'holiday'.

UK Government should now:

- Require banks to freeze the repayments of principal due on loans extended to small scale landlords by the longer of 12 months and the duration of the pandemic;

- Require banks to cancel payments of interest due on loans extended to small scale landlords for the longer of 12 months and the duration of the pandemic; and

- Indemnify the banks against losses arising from the foregoing

Why it was rejected

It asked for something that is not the responsibility of the UK Government or Parliament.

We can't accept your petition because the UK Government and Parliament aren't responsible for the issue you raise. The freezing of repayments and cancellation of interest is a decision for individual mortgage providers, and not the UK Government or Parliament to intervene in contracts.

You could start a petition asking for the UK Government to provide financial support to landlords, if that's what you'd like to happen.

You might also want to sign and share the following petitions asking for
tax relief for landlords:

Allow landlords full tax relief on finance costs such as mortgage interest

And for a Rental income guarantee for landlords for income lost due to Coronavirus

80% Rental income guarantee for landlords. For income lost due to Coronavirus

Timeline

8 Apr 2020	Petition opened for signatures
12 Jun 2020	Rejected by the Petitions Committee

Key facts

Signatures 21

Status Rejected

Rejected 12 Jun 2020

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