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Sale and Rent Back - couple keep home
Gorgeous_George
Posts: 7,964 Forumite
There are 10 types of people in this world. Those who understand binary and those that don't.
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Gorgeous_George wrote: »
I am so pleased for the family. That is exactly the reason why I chose not to go down the Sell and Rent Back route in the end, being able to stay in my home is my first priority. If there were more court cases with this result I might reconsider.0 -
Presumably, they had an assured tenancy, rather than an AST? Very unusual.No reliance should be placed on the above! Absolutely none, do you hear?0
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Presumably, they had an assured tenancy, rather than an AST? Very unusual.
That would seem to be the case. I would imagine that the "BMV Vulture" gave them an AST to sign but in some of the accompanying gumph had something along the lines of "remain in your home as long as you like" and the judge ruled that this made the AST just an AT.
I think the mortgage lender will now sell the property at auction with sitting tenant on AT to cut their losses. But given that the couple's children can inherite the tenancy there might not be any / many buyers.0
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