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Landlord in Arrears
Comments
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me and a mate had this years ago.
The LL came to us and said hes being repod so we just sort of waited till we got a knock on the door.
18 months later we moved out anyway, not a single letter or anything
year and a half free rent all spent in the pub 0 -
The bank shouldn't tell you anything. 2 reasons:
Data Protection Act
Client Confidentiality
Possible conversation:
You: "Hi I'm some bloke you don't know from Adam. I'd like to know about Mr X's mortgage"
Bank: "No chance"
You: "I'm his tenant, honest"
Bank: "No chance"
etc.0 -
I've seen cases like this from a banks point of view and i'm almost certain that so long as the lender is aware of your tennancy, which in the case of a agency they should be, you won't be evicted before the end of your AST.
The additional risk involved in offering BTL mortgages is priced into the rates and charges, and not least, the lower Loan to Value (% they will lend). The lender will have an obligation to your landlord to mitigate losses upon reposation but will have to market the property as "sitting tennent".
If you dont pay your rent you risk being evicted for other reasons, so I wouldn't do that.
I agree that your deposit may be at risk though depending on LLs actual circs.0 -
The bank shouldn't tell you anything. 2 reasons:
Data Protection Act
Client Confidentiality
Possible conversation:
You: "Hi I'm some bloke you don't know from Adam. I'd like to know about Mr X's mortgage"
Bank: "No chance"
You: "I'm his tenant, honest"
Bank: "No chance"
etc.
I was thinking something more like:
Me: I was wondering what your procedure is when you repossess a house that has been let out? I live in a house you are repossessing.
Bank: Well first we sent the Pick-Axe brothers round & if that doesn't work we'll set the dogs on your granny
Me: Ok, will I be told when to expect the Pick-Axe Bros?
Bank: Yes, we put a note through the door while the Pick-Axe bros. are vigorously violating your landlord it normally gives you 2 hours to move your stuff from the house.
Or something like that."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
LOL - I will be using "vigorously violated" in the future! Great phrase!!0
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dont know if you are in a possision to buy or even want to in the current climate but a landlord in serious financial trouble and a property they cant sell till your contract is up might be an opertunity to lowball them and cat yourself a place on the cheap.
anyone who says thats unethical can bite me, the landlord was quite happy to make money of the ops, why shouldnt op take advantage of them.0 -
And so how awesome the prospect of 'renting' over 'buying' now looks - with threads like this lol. Thats for another thread though.....0
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BobProperty is correct in saying that a letter is addressed to "The Occupier" which informs them of the pending court date. This is a legal requirement and must be shown as part of the witness statement to the courts.
This situation with the Landlord being behind with the mortgage is becoming rather common. My OH often attends properties on pre-eviction visits for the lender to see what the situation is before the eviction date is set or goes to talk about the arrears and finds the property tenanted.
He also attends court for possession hearings too and has had a tenant come to a hearing or two but because they were only a tenant then they had no rights and had to leave the property eventually.
And yes with rising interest rates more properties will be subject to repossession orders as more people struggle to keep up. My OH is certainly seeing an increase in the amount of times he is attending court for these types of hearings and he only covers about 6 courts near to us.0 -
BobProperty is correct in saying that a letter is addressed to "The Occupier" which informs them of the pending court date. This is a legal requirement and must be shown as part of the witness statement to the courts.
This situation with the Landlord being behind with the mortgage is becoming rather common. My OH often attends properties on pre-eviction visits for the lender to see what the situation is before the eviction date is set or goes to talk about the arrears and finds the property tenanted.
He also attends court for possession hearings too and has had a tenant come to a hearing or two but because they were only a tenant then they had no rights and had to leave the property eventually.
And yes with rising interest rates more properties will be subject to repossession orders as more people struggle to keep up. My OH is certainly seeing an increase in the amount of times he is attending court for these types of hearings and he only covers about 6 courts near to us.
In all circumstances tenants always have to leave a property eventually.
The tenant has exactly the same rights as before. The lender has to get a possession order and then return to court for them to appoint bailiffs if the tenant stays beyond this date.Well life is harsh, hug me don't reject me.0 -
In all circumstances tenants always have to leave a property eventually.
The tenant has exactly the same rights as before. The lender has to get a possession order and then return to court for them to appoint bailiffs if the tenant stays beyond this date.
Presumably this is the same process as applies to an owner occupier - lender goes to court and gains possession order. lender returns to court to order eviction with baliffs if necessary.
So 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?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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