As well as providing support to business. The government is providing support to individuals with financial difficulties at this time.
The government has announced that anyone who is in financial difficulty with paying their mortgage should be offered a 3 month mortgage holiday or deferral. In effect the mortgage holder will not pay their mortgage for three months. These three months are then added to the end of the mortgage term.
Individuals should apply to their mortgage provider for this support.
The government has also announced a ban on evictions for three months. We advise anyone having trouble to pay their rent to contact their landlord. Advice given to business premises occupiers in our recent blog: here, is also valid for people renting.
Universal Credit is now the UK’s safety net for anyone in financial need. The Chancellor has removed the minimum income floor and increased payments to £409/month.