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Mortgage arrears of landlord
stephenni1971
Posts: 895 Forumite
I have a client who asked my advice on an issue with the house he was renting - and thought someone on here may have had a similar situation and could help.
He has been renting for just over a year now - from a private landlord.
Landlord originally lived in the house but moved away with work hence the rental.
He has discovered that the mortgage is in arrears ( two months ) and it appears the mortgage company are not aware of the house being let.
What are the implications for him if the mortgage company start proceedings?
He has been renting for just over a year now - from a private landlord.
Landlord originally lived in the house but moved away with work hence the rental.
He has discovered that the mortgage is in arrears ( two months ) and it appears the mortgage company are not aware of the house being let.
What are the implications for him if the mortgage company start proceedings?
I am a Financial Adviser specialising in Mortgages, Protection, Health and Medical Insurance. I also write wills. All information posted on this site is for discussion only, and should not be taken as advice.
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Comments
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Suggest that your client starts looking for alternative accomodation.
Even if house is repossed. Lender may well be happy to appoint receiver of rent until property is sold. So there will be a period of grace before your client is required to vacate.0 -
Does he have an AST ? Does the landlord hold a deposit (and has it been regsitered with an acceptable deposit holder) ?
Both of these affect the ultimate answer.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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