Government announces scheme to help covid arrears - how does it work?

Are you a landlord who has suffered financially as a result of the pandemic? Are you a tenant who has struggled to pay their rent or fallen into arrears? Have you managed but know you don’t have the funds to move when you desperately need to?

If so, then the government have announced a scheme which could help you. It was announced last week that a £65 million fund has been allocated to try and assist landlords and tenants who have fallen into arrears as a result of Covid-19.

The funds will be allocated by local authorities and full details are not yet available. However, it is expected that the funds can either be paid directly to a landlord or agent or to a new landlord if tenants are looking to move.

Although the scheme has been welcomed with open arms some have expressed concerns that the fund isn’t large enough. It is currently estimated that there are £360 million worth of arrears nationwide and with the furlough scheme ending some families could still struggling to make ends meet this winter.

Full details of exactly how the scheme works will be available in due course. Keep checking our socials where we’ll announce further updates once they are available!

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