Tenancy Saver Loans in Wales
What is the loan?
The Tenancy Saver Loan scheme is for private rented sector (PRS) tenants in rent arrears or those who are in rent arrears and will also struggle to pay their future rent as a result of Covid-19. It will provide access to a 1% APR interest, affordable loan to be repaid over a period of up to five years from the loan approval/start date. The loan payment will be paid directly to the landlord, or their agent, upon successful application and processing of a loan to the loan applicant. Applications are open from 7th October 2020 to 30th September 2021.
Tenancy Hardship Grant
On 30th June, the Welsh Government launched a replacement scheme for the Tenancy Saver Loan - the Tenancy Hardship Grant - which will allow those in arrears to claim money to cover arrears accrued between 1 March 2020-30 June 2021 if they were Covid-related.
This will be open to applications - and this page will be updated - in mid-July, with all loans given under the TSL scheme converted into grants. However, interest in the grant can be registered now.
Is a similar scheme available in England?
At the present time there is no equivalent scheme in England. The NRLA is currently campaigning for this and other financial support for landlords in England and Wales to help them weather the impact of coronavirus.
If you would like to get involved with our campaign then you can join us by writing to your MP.