Torus Group
Growing Stronger Communities
About Torus Group
Torus is a growth and regeneration group with a commitment to creating sustainable, stable and thriving communities through support, investment, development and regeneration.
Our activities and partnerships play a key role in social and economic development across the North West.
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Scottish Tenant Loan Scheme should be offered in the rest of the UK
A new scheme which will provide interest free loans to tenants who are facing difficulties paying their rent due to the coronavirus pandemic should be offered in the rest of the UK according to a leading property management firm, says property management platform, Apropos.
Scottish Housing Minister Kevin Stewart announced the scheme last week, saying: “This new £10m fund, along with a further increase in our Discretionary Housing Payment funds, will mean that no one should be left in a position where they cannot access support to pay their rent. The intention is that this fund will open in November for those unable to access other forms of support to help meet their housing needs.”
David Alexander, joint managing director of apropos, commented: “This scheme is welcome as it will support tenants in paying their rent during this difficult period. The Westminster government should offer a similar scheme in the rest of the UK to ensure that tenants facing financial difficulties due to the pandemic are supported in paying their rent.”
“This in turn will help landlords who are badly in need of financial support to maintain their properties at a time when regular rental incomes have sometimes become more erratic. However, it is vital that tenants who receive these funds must use them to pay their rent. If the PRS is to survive the pandemic – and it needs to as it is the second largest provider of homes in the UK – then governments need to support tenants and landlords through these difficult days.”
Alexander concluded: “Although this will be an additional financial burden for government at a time when national debt is soaring there would be a much greater human cost if tenants cannot pay their rent. The loss of rental income experienced by landlords could result in many being unable to keep their properties and beginning to exit the market.
“A substantial loss of homes would be catastrophic for many thousands of people and highlights the need to back everyone involved in the PRS at this time.
“The Tenant Loan Scheme is one way of keeping people in their homes, and landlords in the market, and the UK government must establish a similar scheme immediately to help support the PRS through a potentially difficult Autumn