Rented Apartment being Repossessed

bobtail_5

Hi,

I just got back from holiday and have a letter from a solicitor advising me that my landlord is being taken to court for repossession of my apartment.

I just wanted to get a feel of different options so I know what is available to me really. I have read online that I don't have many rights about staying here. I have a private landlord and was never given a contract. The first point I should make is that since February this year all rent I have paid to my landlord bounced back into my account. So he hasn't had any payment for a few months now (I am keeping the money aside). I tried to contact him on two numbers he gave me (mobile and home number) but they just had a dial tone. So I haven't been able to have any contact with him at all - which is strange!

I wondered what the possibility would be of asking to buy the apartment off the lender? I don't know whether I would be able to do that or if it would automatically go to auction or through an estate agents.

I love my apartment and have lived here for two years, it has a lovely riverside view and off road parking and I can walk to work so there's a lot at stake if I have to move. I'm going to call the solicitor named on the letter tomorrow and try and feel out what is going to happen. Started looking for other flats in the same building but they are very popular and none to rent/buy at the moment.

Does anyone know how possible it would be to buy this from the lender directly? I'm not sure if there are legal requirements such as having to advertise and have competition etc.

Any advice would be appreciated thanks!

jamie11

There's no harm in asking.

Do you know who the lenders are?

I imagine they will eventually serve you with a notice under S48 requiring you to pay the rent up-to-date and then a S21 requiring possession and finally going through the whole process of eviction.

If you make a fair offer you may well stop them putting it to auction, a buyer in hand has got to be a bonus for them.

G_M

Read:

Repossession (What happens if a landlord's mortgage lender repossesses the property?)

As for buying: I doubt it. The bank has a duty to get the best price possible on behalf of the owner, so they will have to offer the propert on the open market, either via an estate agent, or auction.

But you can ask!

bobtail_5

Thanks for your responses, I will call the solicitor tomorrow and try and clarify what type of mortgage my landlord has and also enquire about the possibility of renting from the bank.

The link for repossession is very useful so I shall also use that as a template to write to the bank, requesting a further two months at the property to try and bide me more time to find somewhere else to live, should it end up that way.

TLP2012

My rented flat was repossessed. We got a lot of correspondence from the solicitors and the receivers and I wrote them several letters and called them to find out if I could buy the flat. They wouldn't tell me anything until the flat had actually been repossessed. When it is in the process of repossession they will only deal with the owner. Once repossession was granted the receivers told me that it would be listed with an estate agent in the area and to call back in a few days when they knew which one. I called back, they told me which EA it was and I got my offer in quickly.

We went in at asking price and we got it. I was a nervous wreck for a month as we had 28 days to complete which is usual for repos. Anyone could have come in and gazumped us at any time too. So it is doable. Keep on at the solicitors and the receivers who will be cagey at first and get everything in order so you are ready to proceed.

We got a very good price on it as well. I was probably lucky with mine, but if you don't try you won't get.