Chaps,


Seems that a friend of mine who is renting a property - his landlord has defaulted on there mortgage - had a court eviction notice in the post today says that the property will be repossessed on the 12th June

Going to be a right pain if he have to move out - where do I stand as a tennant ? anyone know ? He's more used to being landlord than tennant so this is a new one on me

Really don't want to move now until his new place is done - reckon he could just buy this place as a cheapo repossession ?

Thoughts?

shamelessly ripped from housepricecrash.co.uk

Quote:

I've just been through this. Here's what I did when the repossession court hearing letter arrived:

* Stopped paying rent.
* Wrote to court to tell them I was renting the place.
* Told landlord not to expect any more rent.
* Found somewhere new to live.
* Attended the court hearing (it looks very good if you attend, especially if your landlord doesn't ).
* Moved from the property.

I got 28 days notice from the date of the court hearing to move, and the bailiffs haven't repossessed the place a week after that deadline.

Here's some good advice:

* Before renting, check with letting agency or landlord to see if landlord has a BTL mortgage.
* Be particularly wary of new build flats.
* Find out price landlord paid for property and work out yield (price/annual rent * 100). If it's below 5% landlord is much more likely to experience pain.
* Shelter or CAB can offer advice. Your local council may also be able to help if you have low income, health problems, kids etc.
* If you have health problems or kids you may be able to prolong the eviction.
* If landlord has not got BTL mortgage then your tenancy agreement is not valid.

Here's what's probably not worth doing:

* Spending money on solicitors.
* Suing the letting agency (but threaten it if they withhold any of your deposit).
* Suing the landlord (see above).
* Trying to get any useful information out of the landlord's lender's solicitors.

I should add that I'm showing a slight profit from the shenanigans, so if I get my deposit back it's not worthwhile me taking it further.

The property wasn't being managed by a letting agency. If it was I would have let them sort it out for me.

Also, the property may or may not actually get repossessed. You will not be able to know until the court hearing. But in general, household name lenders (e.g. the high street banks) will be more willing to come to a compromise than specialist mortgage lenders.

My biggest issue is now trying to get the deposit back from the deposit protection service. They want evidence what's happened, but as a 3rd party to the proceedings I don't have any.

Incidentally, if a letter comes addressed to "The Occupier", OPEN IT!!!

Hope this helps!

Is he sole occupier (family) or is the house in multiple occupancy? If in sole occupancy I'd contact the lender and explain the situation - even if they do want to foreclose they may be interested in the rent offsetting cost until auction or sale delaying departure until [perhaps] more convenient.

or as happened to me, I got offerd the house at a discount
The owners of the house had moved abroad and then defaulted on the payments Sons of dogs come hither and get flesh
Clan Cameron