Help!BTL lender trying to sell my home and I am not in arrears

silvercar

Second charge holder only has the right to put any proceeds after the first charge is cleared against their own charge. Second charge is down the pecking order and has no say if first charge holder repossesses/ sells/ leaves no money at all for second charge holder.

No need to seek consent from second charge holder at all.

antrobus

Psg2008 wrote: »

... My mortgage lender appointed LPA receivers a few months prior to my bankrupty....

Are you 100% certain they are LPA receivers? The powers of a LPA receiver are actually quite limited; it does not include a power of sale for example. However the mortgage deed itself may well confer additional powers to the receiver - but then you'd have to read that document to find out what they were.

Psg2008 wrote: »

... 2 years later my lender evicts my tenants in order to obtain vacant possession. As they want to sell my property ....

If the receivers have been validly appointed and have the power of sale, then they are entitled to do that.

Psg2008 wrote: »

... I have moved into the property in order to have the LPA receiver deinstructed and stop the last trespassers legal poceedings. Plus I need somewhere to live with my family (2nd breech of contract) ....

By moving into the property I don't think that puts you in any different a position than anyone who gains access to an empty property and occupies it. You're squatting.

Psg2008 wrote: »

... each time I put tenants in the property they evict my tenant. This has occurred twice ....

Why are you trying to put tenants into the property? The receiver appears to have legal possession of the property; i.e. it's not yours any more. All you're doing is bumping up the costs as it obliges the receivers to evict said tenants.

Psg2008 wrote: »

... Can someone help me with some advice to try and resolve this problems and explore the options stated above...

Get a solicitor.

Don't take that much notice of what you're told on an internet forum.

Psg2008

Hello Antrobus receivers stood down after I moved in as my account was in £3k credit and I am paying my monthly payments directly to the lender

The courts have established that I am not a trespasser or a squatter. As the previous legal action were taken against previous occupiers.

As a result my lender seeking possession based on breech of contract. Although I can satisfy one of the breeches by moving out and putting tenants in the property. But I can not satisfy the bancrupcy breech in 2010

I have been through a lot of solicitors but not getting anywhere but I am paying out thousands of pounds

Psg2008

Thanks for confirmation silver car. As I was advised by a solicitor that the second charge would not stop any repossession proceedings.

But it would stop the sale when the lender attempts to sell the property in the future.

Annisele

silvercar wrote: »

A BTL mortgage is unregulated in the sense that the ombudsman has no juristriction over it.

I'm sorry to be a pedant, but in case it helps somebody else - that sentence isn't completely true. It's almost true, but I think the situation is a bit more complex than that. Under its compulsory jurisdiction, FOS can consider complaints about some things that aren't regulated activities, including "lending money secured by a charge on land" (DISP 2.3.1R).

BTL mortgage loans are indeed unregulated. So FOS can't (generally) look at advice to take out a BTL loan - because advising on an unregulated loan isn't a regulated activity, and it isn't any of the other things set out in DISP 2.3.1R.

FOS can (sometimes) look at what the BTL lender has done. A BTL loan is still a loan secured by a charge on land, so if the lender is in FOS's compulsory jurisdiction, and if the complainant is eligible, and if a bundle of other things are true, then FOS can look at the lender's behaviour.

(FOS does have more jurisdictions that its compulsory one, but I'll leave those alone for now).

OP - I'm a bit concerned that you say you've been through a lot of solicitors and paid out thousands of pounds but not got anywhere. The only explanations I can think of for that is that all the solicitors were incompetent, or that you don't listen when they tell you you can't achieve what you want.

I can't see a human rights defence succeeding against a valid breach of mortgage conditions claim. Have you tried calling Shelter to see if they can advise you? (They're very good, but busy - you might have to wait).

Psg2008

Thanks Annisele

You are correct about the FOS thanks for the advice.

In relation to solicitor my situation has not been straight forward due to my bancrupcy so I had to go through a number of solicitors in order to confirm my position.

Then another set of solicitors to address the litigation aspect

What normally happens is that I will need to pay for the consultation as I have been told it is a specialist area. Another 650-1500 on account for the solicitor to fact find

Once they get some facts I am usually asked for another £3-5k on account.

It isn't so much to do with competence it more to do with experience and willingness to look into areas that may not be their specialist area.

But situation is more simpler now as I know that the human rights agreement is going to be very weak.

But still struggling find a litigation solicitor as soon as I inform them them that I am a discharged bancrupt. They tend to shy away for some reason.

But I will keep on battling on as I am prepared to move out and the mortgage account is up to date.