Latest News

Winter weather precautions

20 January 2021

Propertymark Industry Supplier, Gallagher offers practical steps that can help agents and their clients reduce the risk of damage to property as areas of the nation are set to see further warnings of more inclement weather to come. Damage caused by the escape of water from frozen pipes and other equipment can be extremely costly in repairs and disruption. Read More...

Concerns raised over new energy efficiency proposals

20 January 2021

Propertymark has responded to the UK Government’s consultation on Improving the Energy Performance of Privately Rented Homes in England and Wales by highlighting a number of concerns. These relate to affordability and the need to look beyond a one-size fits all policy and develop proposals that work with the different age, condition, and size of properties in the private rented sector. Read More...

Change smoke and carbon rules for earlier checks

19 January 2021

Propertymark has responded to the UK Government’s consultation on extending the Smoke and Carbon Monoxide Regulations in England, arguing that the rules should be amended so that landlords and agents must make sure the alarms are tested prior to the start of the tenancy and not on the first day of each new tenancy. Read More...

Tenant Saver Loans paid directly to agents and landlords in Wales

Tuesday 11 August 2020

Today, 11 August 2020, the Welsh Government announced the introduction of their new Tenant Saver Loan Scheme, which will be made available from the beginning of September to support those most affected by the Coronavirus pandemic.

Providing financial support, this loan scheme is designed to help those in the private rented sector who are experiencing rent arrears since 1 March 2020, or in danger of getting into rent arrears, as a direct result of COVID-19. There is no cap set on the amount a tenant can borrow.

The Welsh Government is still finalising the details, but ARLA Propertymark understands that the scheme will work by the tenant applying for the loan with support from the landlord. Applicants will be required to provide evidence that they can afford the scheme and have the ability to re-pay. Once approved, the funds are transferred directly to either the landlord or letting agent. There is no limit on what a tenant can borrow, providing the loan repayments are affordable and will be charged at an interest rate of 1 per cent APR paid over a period of up to five years.

The scheme will be administered by Wales Council for Voluntary Action (WCVA) and delivered through credit unions who will conduct checks to audit applications, using, for example, tenancy agreements and personal identification.

Whilst tenants cannot be forced to apply for the support, the Welsh Government expects one-off applications to be made subject to later developments concerning the spread of the virus, the impact on employment, and the existing furlough scheme.

A press release from the Welsh Government says that the new Tenant Saver Loan Scheme will provide an affordable way to cover rent arrears, or future months’ rent, reducing the risk of eviction and homelessness. These loans will be paid directly to landlords and are available for tenants who were not in significant rent arrears prior to 1 March this year. Paying the monies directly to the agent or landlord will provide assurance that rent arrears will be covered, and will remove the threat of eviction for rent arrears.

Announcement   FAQs

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The introduction of the Tenant Saver Loan Scheme is good news and will bring welcome relief for tenants, landlords, and agents. It is pleasing that the Welsh Government has continued to engage with stakeholders from across the sector and listened to our calls for targeted support to help those in genuine need because of the impact of coronavirus. Since the start of the pandemic, we have encouraged all parties to show flexibility and to work together particularly when it comes to rent payments. The scheme will play an important part in this and help to sustain tenancies and keep the rent flowing

Timothy Douglas, ARLA Propertymark Policy and Campaigns Manager

Tenant Saver Loans have been introduced in addition to the Welsh Government’s July announcement of an extra £1.4 million to help tenants boost their household income and manage problem debt, through the Single Advice Fund.