2 year tenancy, but have gone to receivers.. Help!

Worriedmummy

Hi everyone,
I'm really hoping someone can help me. We have a 2 year assured tenancy agreement on our home which doesn't expire until September 2012. However this morning we received a letter from a firm of solicitors stating that they are receivers in respect of the properties owned by our landlady .. Including this one.
The letter is simply asking us to start paying rent to them, but I am very concerned as to what this is going to mean long term.
Can they evict us even though we have a 2 year tenancy?
We gave always paid out rent on time. I am very upset and really don't think I can cope or afford to move right now.
Many thanks

PasturesNew

You're fine. They know you're there, they know you've got a 2 year AST, so you're safe.

However, you can pretty much guarantee that at the end of your 2 year term they'll want you out so they can repossess the house and auction it off. So start saving and planning towards that move now.

BitterAndTwisted

Is the property owned by a company rather than an individual? Just the same, I expect that PasturesNew is correct: they know you're there, they know that you have a tenancy and are going to respect it. Just pay the rent over to the Receivers as requested and get saving for your onward move next year

Worriedmummy

Thanks guys, that's really reassuring .. Yes it is like a company, it was 2 ladies who owned about 60 properties.
My only concern is that a couple of people (friends) have advised me that the mortgage company still could evict me if the properties were mortgaged .. But I don't really understand

G_M

Pastures and Bitter are almost certainly correct.

There is a 1 in 99 chance that this is a scam however, so double check the 'solicitors' really are solicitors, and appointed Receivers. If you've been given their sort code/account number to pay rent into, well, it could be PasturesNew's bank for all we know...........;)

Worriedmummy

Lol for one I hope it is a scam!

PasturesNew

G_M wrote: »

it could be PasturesNew's bank for all we know...........;)

shhh!

---

Out of interest ... which area is it in? Just being nosey as it's "two BTL landlords having a portfolio of 60 houses taken over", which is of interest to the nosey sorts round here ...

And were they professional landladies do you know? Or a couple of bored housewives who watched too much Homes under the Hammer?

Worriedmummy

Our property is in Staffordshire, but the properties are all over the place..derby, Cardiff etc. Am I allowed to name the company on here?

real1314

If the receivers are in, it should have been publicised I think.

Google it, if it's out there in the media, you can quote / link it on here. :cool:

bris

If the bank reposses then they do not need to honour the tenancy, so saying the OP is safe is not nesseseraly true. They must get a court order for possesion but a judge will normaly grant the tenant up to 2 months to find some where else to live.

BitterAndTwisted

I just wondered whether this firm have been appointed Official Receivers (a company) or whether they've been appointed by the mortgage lender (individuals).

As it happens, I am currently working for a huge property management company and I am in a section which has been appointed by the receivers who are working on behalf of the lender/s. It's a number of different portfolios with a huge number of properties and it looks like nearly all of them are currently tenanted. The good news is that quite a lot of (the borrowers') money is being spent on repairs and improvements. Roofs, kitchen and bathroom repairs, new heating systems and appliances, the lot. So, if there are any outstanding repairs in your home which need to be done, get in touch with the receivers asap.