Covid: areas of most vulnerable tenant workers revealed

Published on

New research suggest that up to a quarter of private renters could fall into arrears in towns and cities most impacted by coronavirus.

The research, from rental technology firm Flatfair, found towns like Crawley, which has high numbers of both private renters and furloughed workers, are set to be hit the hardest by redundancies.

Flatfair’s analysis has revealed that as many as 23.8% of the West Sussex town’s private renters could be out of a job soon, leaving them unable to pay rent.

Blackburn, in Lancashire, could see 19.5% potentially fall into rent arrears after losing their jobs.

Renters in Sunderland may also be badly affected, with around 17.9% expected to be made redundant.

Franz Doerr, CEO of Flatfair, said: “While the government’s job retention scheme has ensured many thousands of workers have avoided unemployment, not every job is salvageable.

“Thousands of out-of-work renters face the very real possibility of also losing their homes if they are unable to keep up on rent payments. It is, therefore, up to both landlords and their tenants to be proactive and work together to find a solution.

“Flatfair’s free-to-use Resolve solution is an online portal which allows landlords to quickly and transparently negotiate and agree on a rent repayment plan in the event of any current or expected rent arrears.

“Landlords looking to further safeguard their income can also take advantage of Boost, which provides an additional six weeks of damage protection on top of the maximum of five allowed through a traditional rental deposit.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Masthaven cuts bridging rates and broadens AVM use

Masthaven Finance has updated its bridging proposition with rate cuts across key products, wider...

Mortgage leaders prepare for four-day charity ride from Edinburgh to London

Senior figures from across the mortgage industry are preparing to cycle 456 miles in...

Scotland tipped to lead UK house price growth in 2026

Housing markets across Scotland and northern England are poised to deliver the strongest house...

Asset Advantage to hold broker roadshows on deal structuring around the UK

Asset Advantage is embarking on a series of regional events aimed at helping commercial...

Bank of Ireland for Intermediaries raises income multiples across bespoke mortgages

Bank of Ireland for Intermediaries has increased the maximum loan-to-income available across its Bespoke...

Latest publication

Other news

Masthaven cuts bridging rates and broadens AVM use

Masthaven Finance has updated its bridging proposition with rate cuts across key products, wider...

Mortgage leaders prepare for four-day charity ride from Edinburgh to London

Senior figures from across the mortgage industry are preparing to cycle 456 miles in...

Scotland tipped to lead UK house price growth in 2026

Housing markets across Scotland and northern England are poised to deliver the strongest house...