Bank commenced possession proceedings in respect to property I am renting?

Flyer333

!!!!!! so I am back to square one??

chappers

Flyer333 wrote: »

!!!!!! so I am back to square one??

Basically yes but sit tight, wait until the court hearing, make a representation at the hearing and see what happens.
If HSBC are granted possesion, you wil probably be granted 2 months anyway, even if not it will take them a while to line up the bailiffs probably a couple of months. In which time you can retrieve your deposit, and move on having probably saved a couple of months rent on top.

G_M

Flyer333 wrote: »

!!!!!! so I am back to square one??

* start looking at properties, but don't make any oayments or sign up
* stop paying rent. Set it safely aside. write to the LL to explain
* wait for the hearing to find out if the repossession will go ahead or not
* if it does, ask for 2 months from then - you might get it,or you might find the 2 months started as per the date of the letter
* if the bank rescinds the offer of 2 months grace dueto you not having paid them rent, ask the judge for 2 months
* if the repossession does not go ahead, pay your LL the rent and carry on as normal tenancy.
* Optionally you may wish to discuss Early Surrender with your LL, esp if you have found somewgere else

Flyer333

Just got a response from the agent who has said they will void the agreement if i find suitable accommodation.
So thats one less worry.

G_M

Flyer333 wrote: »

Just got a response from the agent who has said they will void the agreement if i find suitable accommodation.
So thats one less worry.

Get this confirmed in writing before you commit to any new tenancy (or application fees).

(or was this a written response?)

Flyer333

They confirmed via email.

chappers

Probably good enough but get it confirmed in writing and then start looking for somewhere to live.
Sounds like the agents are pretty sure the repo is going to go ahead.
You might want to wait until after the repo date to reclaim your deposit, just in case the agent/LL tries to make deductions. After the repo date they will have to give it back to you.

Flyer333

Thanks for the feedback.
I am keeping together an itemised list of costs associated with moving and I have a friend who will try to reclaim these back from the agent. Including the initial outlay in admin fees, checks, etc.
I will update the thread as and when necessary, for others who may find themselves in a similar position.

chappers

Good luck with that, but worth a try.
Maybe see if the agent can find you another property and reduce the fees as they have already credit checked you etc and know you are a good tenant, from what you have said about the agents they seem half decent.Stay wher you are for as long as possible and use any rent you save against the new fees.
Good, fair agents are few and far between, you might want to stick with those ones for the sake of a few quid.

Flyer333

No way, the agents are pretty bad mate. There is no way I would be staying with them.
But thats a separate issue altogether.