However when it comes to tenant debt the English government has been debating while Wales and Scotland have been implementing. With Scotland in December 2020 introducing their £10 million ‘Tenant Loan Scheme’, enabling debt burdened renters to cover a maximum of 9 months rent arrears with an interest free loan.
Wales launched their scheme in October 2020 which provided an interest rate loan at 1% APR that is repaid over 5 months. This loan gave more confidence to landlords as it was paid directly to the letting agent or landlord on behalf of the tenant.
Meanwhile in England there is support for companies with the ‘Bounce Back Loan’, but debate has stalled any support moving towards English tenants. The Housing Minister Christopher Pincher directed parliament to reject requests for tenant support, sparking Lord Greenhalgh to state that the idea should not be dismissed.
These debates occurred back in October and still to this date the primary funnel of support available comes through the Universal Credit system. We went through the options in our previous article ‘Financial Support’ if you have not checked your entitlements we suggest you have a read.
For now we are waiting to see the direction the Government will move and will update when there is any direction given.
Written by Toby Dawson
