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Credit checking prospective landlords
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franklee, there was someone posting on here whose other half worked in a court on repossessions, they specifically said if a lender came to court seeking repossession it would not make a jot of difference what type of mortgage the landlord had. I will try and find the thread.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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http://forums.moneysavingexpert.com/showthread.html?t=434400&page=2&highlight=repossession+mortgageQuote:
Originally Posted by silvercarSo does a court ever say to a lender, "tenant had AST and landlord had BTL mortgage, therefore lender was aware property was let and so lender has to respect tenants rights under AST and can't evict"?
Or does the AST give no protection to a tenant from a lender repossessing?
So far in our experiences at court the AST means nothing and the judge still grants the possession order.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
franklee, there was someone posting on here whose other half worked in a court on repossessions, they specifically said if a lender came to court seeking repossession it would not make a jot of difference what type of mortgage the landlord had. I will try and find the thread.
You are misunderstanding what difference permission to let from the lender makes.
If there is permission to let then the tenant will have been given the two months notice (under section 8 ground 2) BEFORE it goes to court (just like a section 21 notice or a section 8 ground 8 notice for rent arrears expires before court proceedings occur). Section 8 ground 2 is a mandatory notice so that the judge is obliged to award possession provided all the paperwork is correct but the tenant will have had his two months notice BEFORE that.
Without permission to let from the lender the tenant will not get this notice. They will only find out about the possession order late on and sometimes only at the last minute. Even if they get wind of mortgage arrears they are in a quandary of if they should move out or not as they do not know if there will actually be a repossession and so may get penalised for moving out during the fixed term.
Frankly the two months notice makes a huge difference!
There are circumstances where the tenant can stay till the end of the fixed term, such as the tenant being there before the mortgage was taken out but then the lender still gets posession but not right away. The lender would not lose the case, I doubt they would take court action if they would lose, so it's not suprising the poster you quote han't seen this. Lenders know what they are doing.0
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