Think landlord is getting the house reposessed

staciiee

Wondered if anyone can give me any advice. Receiced a letter today from a company saying ..... Mortage express, who hold a first charge over the property have appointed so and so as joint LPA receivers on behalf of landlord (deceased)....(landlord died a year ago but his wife took over)<br />
<br />
Lsl(who sent letter) is acting as thr managing agent for the receivers and will be collecting the rent...etc etc.... If you have a legal right to remain in the property we fully respect that however we will need your cooperation in this respect. Please contact....<br />
<br />
I rang them up they said landlord had defaulted on their mortgage and that everything would be dealt with them and that they will review and see if they will be selling the house.

I rang our estate agent who said they have heard nothing even from the actual landlord. They tried to get in contact with her but no reply. Estate agents said from their experience this is the landlord getting the house repossessed.

Now where does this leave us? What rights if any do we have? Is there and chance of them not selling the house and continue renting to us?

They are sending someone out on friday to take pics of all the rooms and house etc.

We have only lived in this house 3 month, have 3 month left on the tenancy. We have nowhere else to go etc.... Estate agent said we would be sitting tenants when they put house up for sale. But company who sent lettet wae making it sound like we have to move out if they do review to sell... Cant believe this is happening we have two kids and another one on the way. What do we do?

Marktheshark

Was your name on this letter ?

staciiee

There was no name on just the address

Marktheshark

And have you given them your name now ?

staciiee

Yes i have now as they said they needed details of everyone who lived in the house

G_M

Read


* Repossession: what if a LL's mortgage lender repossesses the property?

Marktheshark

Fist thing is to STOP.
You need to get independent advice and forget "what they say".
You have lawful rights here and whatever you do sign nothing, you already have a tenancy agreement so do not sign any documents or contracts.

I would also inform them they wont be poking round the house or showing buyers around until you tenancy runs out unless they want to buy out an early termination.
Suggest £5k for a tenancy buy out, this will put the stoppers on them.

I would give shelter a call and listen very carefully to what they tell you and make notes.

DandelionPatrol

Marktheshark wrote: »

Fist thing is to STOP.
You need to get independent advice and forget "what they say".
You have lawful rights here and whatever you do sign nothing, you already have a tenancy agreement so do not sign any documents or contracts.

I would also inform them they wont be poking round the house or showing buyers around until you tenancy runs out unless they want to buy out an early termination.
Suggest £5k for a tenancy buy out, this will put the stoppers on them.

I would give shelter a call and listen very carefully to what they tell you and make notes.

Really?

All they need is to get is a repossession, which will be stayed, for is it 6 weeks in these circumstances, and then OP is liable to eviction. Suggesting £5k for a tenancy buyout may cause the lender to bring it on rather than back off.

Voyager2002

DandelionPatrol wrote: »

Really?

All they need is to get is a repossession, which will be stayed, for is it 6 weeks in these circumstances, and then OP is liable to eviction. Suggesting £5k for a tenancy buyout may cause the lender to bring it on rather than back off.

An additional point: it is possible that another LL might buy the house and allow the OP to continue to rent. If that is a possibility, it is in their interest to be cooperative with viewings and so on.

staciiee

Thanks everyone we are going to co operate in hope that that another landlord will buy it.

The current landlords mortage was a buy to let.

i will give shelter a call . thanks

antrobus

DandelionPatrol wrote: »

Really?

All they need is to get is a repossession, which will be stayed, for is it 6 weeks in these circumstances, and then OP is liable to eviction. Suggesting £5k for a tenancy buyout may cause the lender to bring it on rather than back off.

It's actually up to two months;

When making an order for delivery of possession of the property, the court may, on the application of the tenant, postpone the date for delivery of possession for a period not exceeding two months.

http://www.legislation.gov.uk/ukpga/2010/19/section/1