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Karen Adam is now the MSP for Banffshire and Buchan Coast

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7 December 2020

Stevenson Welcomes Loan Fund for Rent Arrears

Banffshire and Buchan Coast MSP Stewart Stevenson has welcomed a £10million fund which offers interest free loans to tenants who are struggling with rent arrears.

The Tenant Hardship Loan Fund is designed to help people who have had their finances or employment impacted by the coronavirus (COVID-19) pandemic and do not have other means of housing support.

The new fund is part of a range of support and interventions by the Scottish Government in response to the pandemic.

By giving tenants access to loans to cover a maximum of nine months’ worth of rent arrears and long repayment terms, it provides another option for people who have lost out financially due to the pandemic, but who can’t claim support from other means, such as welfare benefits.

Commenting, Stewart Stevenson MSP said:

“This is a very welcome step in helping those who have gone into arrears on their rent because of the financial hardship brought about by the pandemic.

“The Tenant Hardship Loan Fund is part of a broader effort to support those affected and give people access to appropriate financial support.

“For the majority of tenants facing financial difficulties and arrears the best means of support is regular non-repayable support, for example through Universal Credit and Discretionary Housing Payments.

“This fund will allow those who may fall through the gap and be unable to claim such support, or who might have been thinking of borrowing.

“It will allow them to manage rent issues which have arisen as a result of the coronavirus.”

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