Help! My landlord has become bankrupt!

flopsy81

Hi all, I was wondering if anyone could help me please?

Our landlord has just notified us that he has been made bankrupt and the mortgage company have told him we need to vacate the property by the end of Nov 08.

Unfortunately, we never managed to get a tenancy agreement from him and so far have not received any official notice from his mortgage company to confirm our notice period, I was under the impression, from researching on the web, that even without a tenancy agreement we should still receive 2 months notice from the mortgage company? The fact that we haven't makes me think he hasn't even notified the mortgage company we're resident at the property. Can anyone confirm if this is correct? and if so, does anyone know how I can find out who the mortgage company are so I can let them know we're here myself? and also discuss with them the possibility of buying the property from them.

We have been looking for rental options, but are having trouble securing anywhere as they seem to be available and gone again before we even get a look in. My thoughts are that if we can buy somewhere then maybe we should consider it, my partner has been agreed a mortgage, but he is reluctant to buy in the current market, can anyone offer any advice?

If anyone can provide any information or advice in relation to this matter it would be greatly appreciated.

Thanks in advance

poppysarah

Ring shelter for proper advice.

brit1234

I would give shelter a ring or check out their website. They seem to be giving a lot of advice on this subject now.

https://www.shelter.org.uk

flopsy81

Thanks for the info, I will give them a try and see how we go.

So_Sad_Angel

Hi,

Pretty short notice to buy..even if you find a place it will be 4-6 weeks completion & with prices still falling you don`t want to buy & be losing value.

If you can speak to your landlord then worth asking if there is the option to buy the existing property either by speaking to the Mtge Co or his Official Receiver. If the Landord has a potential buyer then it will mean that the Mtge repo costs will be lower & the property will not have to go to auction (as most repos do). I think that this would be in the interests of the bankrupt & yourselves as you can offer a low...but realistic offer.

If that is a no-goer then contact local council & Housing Associations who do have emergency housing but I think there are qualifying levels...however you will be `unintentially homeless` so you may get some help there.

Also Shelter are excellent.

Good luck,

Angexx

silvercar

Our landlord has just notified us that he has been made bankrupt and the mortgage company have told him we need to vacate the property by the end of Nov 08.

Either your landlord is a liar and is saying what he can to get you to move out or he is in a financial mess and in his confused state is not passing on info correctly.

Either:

1. your landlord has been made bankrupt, the appointed official receiver now owns the beneficial interest in the property and will communicate with you. This does not mean you have to leave early but the likelihood is that you will be given notice to leave when your contract ends. Even with no formal contract, you have paid rent, he has received rent, you live in his property therefore a tenancy exists. I would expect that the tenancy would be considered to be a periodic tenancy and as such 2 months notice to end on a rent day would be expected.

2. Your landlord hasn't kept up with the mortgage payments and the lender intends repossessing. Quite possibly the lender is unaware of your existance, so tell them. The lender will need to go to court to gain possession, you can go to court and inform the jusge of your position; chances are you would be given a few weeks notice to move.