Rented flat being repossessed

TLP2012

Hello all

I have scoured the internet to find the answer to my question but haven't found it, so apologies if it appears elsewhere and I missed it. We've received 3 letters from a solicitor stating that our flat is likely to be repossessed. Everything is managed through a letting agent which has tried to reassure us but I am trying to find out who we would contact about buying the flat. I contacted the solicitor who has sent us notification of repossession but they told me it is nothing to do with them. I think the LL has other properties which are being repossessed. I have no contact with the LL and I am wary of approaching her as she seems a bit dodgy to me but I know who the asset recovery firm is for the other flats being repossessed - is it likely she would be using the same mortgage lender for her portfolio of properties, and therefore they'd be using the same asset recovery firm who may be dealing with our flat? I was thinking of approaching them directly about the possibility of buying the flat (assuming they are also dealing with our flat).

Also, we received a letter from the deposit protection scheme stating our deposit had been moved. We didn't agree to this and after 3 weeks we've received no notification from the new scheme. Could the LL have pocketed it?? Again the letting agent is trying to reassure us but can give us no evidence as to why we should be reassured!

Any advice would be appreciated.

Thanks!

dancingfairy

Hi - I'd get on to Shelter for help and advice on this but a few thought to start you off:
1) presumably the solicitor(s) know you are there - have you written to confirm this?
2) have you had notice of a court date? You need to attend and make your case to the judge to stay on.
3) Just because your flat is being repossed it doesn't mean that it will automatically be up for sale anytime soon. You would think that the bank will want to get it turned around again soon but it depends on whether they hire a private company to clear the flat and remarket it etc - sometimes even when people are bankrupt and want the house repossessed the banks don't exactly rush in.
5) Have you downloaded the title from the Landregistry which may show up charging orders and who owns the property?

I'm sure others will be more help later.
Best of luck getting this sorted.
df

G_M

Contact the deposit scheme - your deposit should not have been removed without them asking you first.

Re buying, it could be a long time before it's on the market, but the land registry will show you who has a mortgage on the property. £4 to download the title and then look at the 'Charges Register'

re your security as a tenant. What tenancy do you have? Are you in a fixed term? And do you know if the LL has a buy to let mortgage or Consent to let from the mortgage lender? If yes, then they will become your new landlord and your tenancy will be unchanged, so if you are in a fixed term you will be safe till the fixed term ends.

If the LL does not have BTL/CTL then when the lender takes over they can apply for vacant possession and you will be evicted. However a new law, the Mortgage Repossessions (Protection of Tenants etc) Act 2010 allows you to ask the judge for 2 months. You must attend the court hearing!

TLP2012

Hello both

Thanks for your replies.

I have phoned the solicitor who has advised that I will be kept informed but can't tell me any more than that as it is a data protection issue, and is between the lender and the LL. No court date has been set yet.

I have it on good authority that the recovery firm is keen to know of anyone interested in buying the other properties that the LL is having repossessed so I am keeping my fingers crossed this is the same for our place and I reckon it won't hurt to call them and tell them I am interested.

I don't know who the lender is and I don't know what type of mortgage the LL has. We have only just renewed our lease for another year but I don't know if this will mean much in reality.

Regarding the deposit, we have been told by the original scheme that it will be protected for 3 months after the deposit has been removed but it has not been registered with the other schemes yet - I'll call them tomorrow. I am just worried that we are going to be evicted and the LL will have made off with the deposit! I have thought about withholding the rent but I don't want to put myself in a bad position if we could be considered to buy the flat.

I will check the Land Registry. Joys of renting eh?!

G_M

TLP2012 wrote: »

Hello both

Thanks for your replies.

...
I don't know who the lender is see my post above and I don't know what type of mortgage the LL has.a 'professional' LL with multiple properties is very likely to have a BTL mortgage We have only just renewed our lease for another year but I don't know if this will mean much in reality.if the LL has a BTL mortgage then you have security for another year! In reality.

Regarding the deposit, we have been told by the original scheme that it will be protected for 3 months after the deposit has been removed but it has not been registered with the other schemes yet - I'll call them tomorrow. I am just worried that we are going to be evicted see my comments above and the LL will have made off with the deposit! I have thought about withholding the rent bad move but I don't want to put myself in a bad position if we could be considered to buy the flat.

Do NOT stop paying rent unless you want to be evicted!

TLP2012

Cheers G_M. I have managed to break the Land Registry website when attempting to register so will probably have to wait till tomorrow so I can call them! I will pay up and do some more digging re. deposit and lender. Thanks for your help.