landlord bust, lpa receiver advice needed

dou_jyr

oh dear, ll in the doo doo. lpa receiver appointed recently. some q's please:

1) how can i check the bona fides of the lpa receiver? it all looks above board, posh letter, website, bank details to pay rent. but not keen to send £££££ on just this basis.

2) lpa receiver insists they want a copy of the rental agreement from me. i'm not inclined to provide one for 2 reasons i don't have access to photocopy facilities and i don't see why i should be out of pocket even for a couple quid as none of this is my doing, secondly why can't they get it from my ex-ll?

3) fixed AST runs out 30 sept. my understanding is that i would still get 2 months notice despite the AST finishing then. that sound right?

edit : i should also mention there is no outstanding s21 assoc with this fixed AST.

4) i have read on the internet that the lpa receiver doesn't actually have any legal powers to serve notice under any of the various sections. can anyone verify this? sounds a bit odd, but that's what i read.

on a general note, are lpa receivers the good guys, or just posh dca's and to be treated as such? best to be fully cooperative, or not?

cheers

dou_jyr

a supplementary q which i might as well ask, though i suspect it's probably one for a solicitor:

i had coincidentally signed a further fixed 6 month AST commencing 1 oct till 31 mar 2013 in the week before the ll was notifed the lpa rcvr was appointed. is this new AST legally valid? (the lender is aware the property is tenanted so is legally bound if it is valid, i believe)

i would think (hope) it is. i actually really want to stay here as i like it, plus it costs money to move, so don't really want to if only for that reason. if that wasn't the case i'd be off 30 sep, but i want to stay on if i can.

phill99

An lpa receiver is appointed by a lender (bank) after a homeowner (in your case your landlord) has failed to keep up repayments and has been granted a repossession order by the court.

The role of the receiver is to sell the property in order to recover the debt owed.

They ate strictly governed and professional. Many of them are chartered accountant or chartered surveyors.

If you have concerns about paying rent to them, call them and ask to meet them. If you don't pay them rent, they may start proceedings against you.

The property you ate in will be sold as is, probably at auction with you as a tenant.

G_M

Provided your (ex) landlord was renting with the permission of his mortgage lender (ie a BTL mortgage, or CTL), then they have to honour your tenancy agreement. You are secure till the fixed term expires. They then have to evict you in the normal way (S21 Notice followed by court possession order).

If you have signed a new fixed term tenancy with the (ex) landlord while he was still your landlord (ie before he lost the property) then again, that tenancy must be honoured - so the date it was signed is crucial.

If on the other hand the mortgage lender had NOT consented to the letting (was not informed of it) then the tenancy is null and void. But the
Mortgage Repossessions (Protection of Tenants etc) Act 2010 then kicks in, allowing a judge to award you 2 months grace before eviction

dou_jyr

phill99 wrote: »

An lpa receiver is appointed by a lender (bank) after a homeowner (in your case your landlord) has failed to keep up repayments and has been granted a repossession order by the court.

really? does this only happen after a repossession order has been granted?

phill99 wrote: »

The property you ate in will be sold as is, probably at auction with you as a tenant.

that would be acceptable! though i could of course end up with a nasty new ll. however, i prefer to think most lls are reasonable people.

dou_jyr

G_M wrote: »

Provided your (ex) landlord was renting with the permission of his mortgage lender (ie a BTL mortgage, or CTL), then they have to honour your tenancy agreement. You are secure till the fixed term expires. They then have to evict you in the normal way (S21 Notice followed by court possession order).

If you have signed a new fixed term tenancy with the (ex) landlord while he was still your landlord (ie before he lost the property) then again, that tenancy must be honoured - so the date it was signed is crucial.

If on the other hand the mortgage lender had NOT consented to the letting (was not informed of it) then the tenancy is null and void. But the
Mortgage Repossessions (Protection of Tenants etc) Act 2010 then kicks in, allowing a judge to award you 2 months grace before eviction

thank you for that reply. it confirms my understanding of the situation. i believe the lender is fully aware the property is tenanted. there is, however, a slight overlap of the dates. i shan't mention specifics, as who knows who might be reading this :eek: so using fictitious dates ....

lpa rcvr apparently appointed 1 may
new AST agreed and signed 10 may
lpa rcvr notifies ll 14 may
lpa rcvr notifies me 15 may

i would hope the new AST is legal as the date the ll was informed was the date he lost the properties, not the date the rcvr was appointed.