Company called PSP, anyone heard of them? Renting & Repossession query

iscrimger

I have an ongoing problem with a property repossession, I rent from an agency and notice has been served to evict us by the landlords lender.

I had someone at the door from PSP asking me about the property, who lives there, is it furnished, how much rent do I pay and if I know if the landlord had permission to rent the property out?

The letting agency is a fairly large and professional organisation and the man knew them and seemed surprised. I got the impression from the gentleman that the landlord didn't have permission to rent the property out - and he said I should look into it as I might not have to pay any rent!!

He was also asking about the tenancy I have, when it was signed and when it ends. The eviction notice was served for September 17th, I told him I'd contacted the solicitor with my tenancy and was awaiting their response - normally they issue a 2 month notice period.

Can anyone advise? How do I find out if he has permission to rent the property out? Or who this PSP exactly are and why they are so interested? I've googled them to no avail, he had ID but I was just more interested in his questions rather than his purpose. All I know is he was after the owner of the property.

Fire_Fox

Are you in a six month assured shorthold tenancy? When you are due to leave in September will you have been there six months or more? If so I can't see why it is relevant whether he has permission to let, it sounds like the lender has recognised your tenancy by giving notice. You should not really be discussing your landlord's business with a stranger.

iscrimger

Fire_Fox wrote: »

Are you in a six month assured shorthold tenancy? When you are due to leave in September will you have been there six months or more? If so I can't see why it is relevant whether he has permission to let, it sounds like the lender has recognised your tenancy by giving notice. You should not really be discussing your landlord's business with a stranger.

I am in a min 6 month tenancy. This ends on 8th November. I've been through repossession (in May) with the last flat I had. I never had a visit from anyone.

The notice served was from the Sheriff Office, the standard 2/3 weeks Notice of Ejection. I am awaiting notice from the lenders solicitor regarding my tenancy. This will either be for the 8th November or thereabouts.

It does matter if he has permission to let the property as it would violate the terms of his mortgage and having looked into it further a lender could potentially evict us in less time as we're not meant to be there. It was this 'PSP' guy who told me to look into it.

I also was not discussing his business. He came to the house with a load of paperwork looking for the owner and I explained I rent the property from him. He then said it was me he needed to talk to in that case. He then had some questions, he also had the same paperwork for the other properties the landlords owns. (I already knew the landlord was a buy-to-let landlord but at the time I didn't think of this)

To be honest I'll discuss my landlords business with whoever asks. He owns a number of properties in this development while registered to stay here himself - of course he has kept a low profile , everyone of the properties he owns is being repossessed and people have been moving out everyday since the notices were served last week. Each flat is also being sent countless letters regarding his unpaid factoring fee's etc.

He owns 40% of the flats in this building. The remaining flats are owned by a holiday lettings firm and the remainder are empty. The building will actually be empty shortly!

silvercar

I had someone at the door from PSP asking me about the property, who lives there, is it furnished, how much rent do I pay and if I know if the landlord had permission to rent the property out?

Surely with mounds of paperwork, he would know if the landlord had permission to let.

Also, if the LL owns lots of flats in the block, it must be a commercial mortgage. A lender would see that an applicant has lots of properties so would not give a residential mortgage on them all.

If PSP is sent from the lender, they would know all the details of the mortgage.


Something not right here.

Fire_Fox

That's what I thought, Silvercar, I don't like this PSP thing at all. Maybe I have spent too much time on the DFW board and read too much about the sneaky way many debt collectors/ bailiffs operate ... I still don't think it matters if he had permission to let, it's too late for that. The landlord has now violated the terms of his mortgage in a manner sufficient to get repossessed.

I can understand this must be very stressful, iscrimger, especially since you have been through it before. The fact is, if this company was legitimate they'd have explained their function to you and chances are they'd have had a website. I think you have had the wool pulled over your eyes by an ID badge and some smooth talking, the question is by whom.

iscrimger

silvercar wrote: »

Surely with mounds of paperwork, he would know if the landlord had permission to let.

Also, if the LL owns lots of flats in the block, it must be a commercial mortgage. A lender would see that an applicant has lots of properties so would not give a residential mortgage on them all.

If PSP is sent from the lender, they would know all the details of the mortgage.


Something not right here.

Which is why I'm here asking!!

I also don't know if they are from the lender, I didn't say that.

All I can devise is that this PSP is a collections agency for debts secured against the properties or this business of his and they are now carrying out initial valuations on what they can recover. He certainly didn't seem to be from the lenders side in what he was asking.

I have found the Landlord Registration site for Scotland, the flat/s are registered under his business partners name.

He did explain who he was but after all the questions I only remembered bits. I'm not stressed over it and I certainly don't think I've had the wool pulled over my eyes because the only possible outcome he could reach is evicting me - and that process has already started.