Tenanted Property and Receivers

sam_car

Thank you for your help. 

This is a copy of the clause from the HMO licence from Westminster council:

7.1 No person other than the licence holder or the agent named on the licence may collect and receive rental monies from the occupants of the property. The licence holder and/or agent may pass on the rental monies to any third parties as required.

The license holder/agent is the estate agent. 

I don’t owe any arrears but five of us are on an AST. My flat mate did miss two payments from last year but the agency won’t confirm or deny whether this is the only cause of our current position. 

The property is going through the repossession process with the tenants all be served S8 notices last week. No possession order has yet been issued. The S8 states that the fixed charge receivers are intending to sell the property to pay back the arrears due on the mortgage.

My main question is whether it’s possible for the borrower to refinance out and repay the arrears or is the agency trying to pull the wool over our eyes? 

Thanks

Sam