Landlords advised to plan for next six months as repossession proceedings are scrapped

Landlords advised to plan for next six months as repossession proceedings are scrapped

Landlords have been advised that they may have to wait until the end of the year to get their properties back after the Government confirmed at the end of last week that housing possession court proceedings have been suspended.

The initial suspension by the Ministry of Housing is for 90 days but this may be extended if required.

Although the move may leave landlords struggling to make mortgage payments, ARLA Propertymark is supportive of the move with David Cox, chief executive, commenting, “However difficult it may be, this is the right decision in light of the current circumstances. Yet evictions will not be required if we can keep the rent flowing.”

 

Full story available from Property Industry Eye: https://propertyindustryeye.com/landlords-urged-to-budget-for-the-next-six-months-as-repossession-proceedings-are-scrapped/

 

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