What you need to know about the Tenancy Saver Loan
Mon 12 Oct 2020
Last week the Tenancy Saver Loan was launched across Wales for the Private Rented Sector. With the current pandemic still impacting jobs across the country, the loan has been set up to provide an affordable way for tenants who are struggling financially, due to the public health emergency, to cover rent arrears (or future months’ rent).
Martine Harris, Head of Lettings at Moginie James tells us; "This action taken by the Government is a strong move in enabling our tenants to stay in their homes which is great news for landlords, agents and tenants alike, especially in the run up to Christmas!"
With just 1% APR interest and the option to repay the loan over a period of up to five years, this really should prove to be affordable for all tenants. The loan would be paid directly to the Landlord or Agent or the tenants home. You can find all the FAQs you will need here and if you yourself have been impacted and would like to further investigate a loan, you can do so on the Credit Unions of Wales website, here.