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Landlord being repossessed!

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We've found out that the house we're renting is being repossessed and the landlord has gone AWOL. The letting agency assure us that we are safe as sitting tenants and can't be evicted. However, they are muppets and I don't trust them.

Does anybody know if this is true? The 6 month minimum term on our contract comes to an end next month, does this affect matters?

And one more question, how will living in a repossessed house affect MY credit rating?

Cheers.

MattLG

Comments

  • Guy_Montag
    Guy_Montag Posts: 2,291 Forumite
    1,000 Posts Combo Breaker
    1) Living in a repo shouldn't affect your credit rating, it's not you in default.
    2) Attend any court hearings if you get the chance, you'll then know what's going on & can argue for longer to find a new place.
    3) Start looking for new properties now! Ignore what the LA says, they are muppets & you're right not to trust them. In fact insist that they find you a new place & don't charge you any fees for it - it might not work, but hey if it does it's good money saving. ;)
    "Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
    Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
    "I think I'll become an alcoholic," said Betty.
  • With regards to credit, you're credit rating will be fine.

    There are only 2things that effect your credit rating, that's you and anyone you have an official financial link with, such as a joint account/mortgage etc. Any defaults at an address won't effect your own rating as long as it's not your name (I've known people with the same name as a previous tennant from a while ago, freaky eh! but then they proved the differences with the Dateofbirth being different).

    As with regards to the repossesion, I personally have no idea but good luck with whatever happens. Sounds really harsh on you!
  • Lavendyr
    Lavendyr Posts: 2,610 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Why is the house being repossessed? Is it because the landlord has defaulted or because he is letting the house without permission from the lender?

    If the latter, then I would start looking for somewhere to move to because from these boards, I understand that if the landlord did not have permission to let, your tenancy agreement counts for nothing and you can be evicted by the bailiffs when the house is repossessed without notice. So check up on that, don't leave it until they're knocking on the door!
  • silvercar
    silvercar Posts: 49,628 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    The letting agency assure us that we are safe as sitting tenants and can't be evicted.

    The LA is a muppet:

    a) I doubt you are sitting tenants, unless you have been renting their since the eighties. More likely you have an AST which should give you some rights but only if the lender was in agreement for the property to be tenanted.

    b) if the lender was in agreement for the property to be let ie consent to lease or BTL mortgage, then the repossession should leave you in situ - though I would suggest contacting the lender and attending court to be sure.

    c) if the lender was unaware the property was let, you have no rights to be there, in the lenders eyes. You would be evicted and need to seek redress from the landlord.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • BobProperty
    BobProperty Posts: 3,245 Forumite
    1,000 Posts Combo Breaker
    MattLG wrote: »
    .... The letting agency assure us that we are safe as sitting tenants and can't be evicted. However, they are muppets and I don't trust them.....
    You are right. They are muppets.
    Lavendyr wrote: »
    Why is the house being repossessed? Is it because the landlord has defaulted or because he is letting the house without permission from the lender?
    If he is letting without permission it is surely a breach of his contract with the lender and can be remedied in civil law without the need to repossess the property? It is much more likely he hasn't being paying the mortgage.

    Now I've already made the point elsewhere but I don't see that the existence of a valid AST makes any difference to the lenders right to gain possession through the courts. I await information on that point of law.

    As to the OP, you should get a letter from the court addressed to "The Occupier" notifying you of the court date. You can go to the court hearing and explain your situation.
    A house isn't a home without a cat.
    Those are my principles. If you don't like them, I have others.
    I have writer's block - I can't begin to tell you about it.
    You told me again you preferred handsome men but for me you would make an exception.
    It's a recession when your neighbour loses his job; it's a depression when you lose yours.
  • nej
    nej Posts: 1,526 Forumite
    How about offering to buy the property at a rather good price?
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    If it was me I'd:

    1. Stop paying the rent until the LL contacts you to explain. Not strictly legal (you'll be in breach of contract) but let your LL find you and sue you. You're only in breach of civil law so won't go to prison or anything like that. If the LL's gone AWOL, it might just be the thing to make him/her get in touch again!
    2. Look for somewhere else to live. If you're on an Assured Shorthold Tenancy and the bank reposess then you'll be kicked out pronto, most likely, regardless of any contracts. Your contract is with the LL not the bank. The bank will want vacant posession to maximise the value of the place.

    Is your deposit protected? It should have been in which case you'll get it back less any damages. If not then you can probably wave bye-bye to it (see point 1 above).

    If you need advice, contact Shelter 0808 800 4444 (open 8am-midnight) or your local CAB. They'll tell you the correct way to proceed.

    PS Without wishing to turn this into another blo.ody HPC thread, is it just me or are there a lot more of these sorts of questions now?
  • BobProperty
    BobProperty Posts: 3,245 Forumite
    1,000 Posts Combo Breaker
    Generali wrote: »
    ....PS Without wishing to turn this into another blo.ody HPC thread, is it just me or are there a lot more of these sorts of questions now?
    I was thinking exactly the same thing earlier. I think it's 3 in almost as many days.
    A house isn't a home without a cat.
    Those are my principles. If you don't like them, I have others.
    I have writer's block - I can't begin to tell you about it.
    You told me again you preferred handsome men but for me you would make an exception.
    It's a recession when your neighbour loses his job; it's a depression when you lose yours.
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