UK Finance has confirmed that the banking and finance industry will continue to support commercial landlord customers with the June/July rent quarter rapidly approaching.
The trade body said that lenders recognise that commercial landlords and their tenants may have concerns about their ability to make their payments and that support was available including the providing of capital payment holidays and amending current facilities.
Stephen Jones, chief executive of UK Finance, said: “Commercial finance providers are working hard to support business customers through these difficult times and lenders recognise that the current situation poses particular challenges for commercial landlords and their tenants.
“A wide range of flexible support is available, including amendments to facilities and capital payment holidays to help landlords and their tenants manage through the disruption.
“As part of the support being provided ahead of the June quarter day all the main commercial lenders are proactively contacting their major commercial landlord borrowers to identify concerns they have and provide support where appropriate.”
Those commercial landlords who are concerned about making loan repayments or require financial assistance during this time and who have not yet been in contact with their lenders should do so through the usual channels.
By Ryan Fowler
Source: Mortgage Introducer