The current global crisis has caused a lot of disruption and uncertainty for many people, and the UK government is taking steps to help those affected. One such measure is the relaxation of buy-to-let mortgage regulations. This is intended to help landlords who are struggling to keep up with their mortgage payments due to the economic downturn.
The government has announced that lenders should be more flexible when it comes to buy-to-let mortgages. This includes allowing landlords to defer payments for up to three months, as well as offering longer repayment terms. This is intended to help landlords who are struggling to make ends meet during this difficult time.
The government has also urged lenders to consider reducing interest rates on buy-to-let mortgages. This could help landlords who are struggling to keep up with their payments, as lower interest rates would reduce their monthly outgoings.
Furthermore, the government has also suggested that lenders should consider offering more generous repayment holidays for landlords. This could help those who are struggling to make ends meet during this difficult period.
The government’s measures are intended to help landlords who are struggling financially due to the current crisis. By relaxing buy-to-let mortgage regulations, the government hopes to ensure that landlords can continue to provide housing for tenants, while also providing some financial relief during this difficult time.
It is important for landlords to be aware of the changes that the government has made, and to take advantage of them if they are eligible. By doing so, they can ensure that they are able to keep up with their mortgage payments and provide housing for tenants during this difficult period.