Commenting on the Homes for Ukraine scheme, UK Finance and the Building Societies Association said:
“Mortgage lenders are supportive of the government’s Homes for Ukraine scheme which will enable homeowners across the UK to provide accommodation to refugees fleeing the war.
“UK Finance and the BSA are working closely with the government to ensure the scheme is implemented as quickly and simply as possible, and in a way that enables mortgage-holders to participate easily.
“Guidance for homeowners and landlords who wish to be part of the scheme is available on the government website. Further instructions will be available on your lender’s website. If your lender requires you to let them know someone will be staying with you, this should be done as the visa application is made for your guest(s).”
- Participants will need to continue making their full mortgage payments while part of the Homes for Ukraine Scheme and should factor this into account when considering entering the Scheme.
- Lenders will be pragmatic and flexible, but may not be able to support applications in a few extreme circumstances for example where the mortgage holder is:
- more than six months in arrears
- repossession proceedings are underway
- in vulnerable circumstances
- there is a situation involving fraud or financial abuse