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Author Topic: bankrupt landlord  (Read 3558 times)

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Aundie

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bankrupt landlord
« on: 24 January 2013, 16:00:41 »
Wondered if anyone has experience of this?
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STMO123

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Re: bankrupt landlord
« Reply #1 on: 24 January 2013, 17:05:51 »
What a lazy post. A bit more reference would be nice.
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Aundie

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Re: bankrupt landlord
« Reply #2 on: 24 January 2013, 17:20:06 »
Have lived here for 4 years. Revived a letter from an accounting firm yesterday saying they were now trustees for the property. Phoned them yesterday they want me to send them my lease and all details of all people living here. Have tried to do some research but so much conflicting info! From stop paying to move out soon as possible. Really quite nervous as to what's going to happen.
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Entwood

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Re: bankrupt landlord
« Reply #3 on: 24 January 2013, 17:29:34 »
No idea if this is still the case or not, and please do NOT take it as "gospel" ...

My brother was in this situation some 30 odd years ago, so things have probably changed, but in his case he spoke to the CAB (or whoever it was then) and was told quite simply ...

The terms of his lease still applied (he had a 2 year lease with the option to give 3 months notice, the landlord had no such option) even though a management firm took over the property and despite their "forceful" letters they had no rights or ability to evict him. He was also advised to tell them that any further attempts would result in a formal accusation of "harassment". This he did and it all went very quiet, he remained in the property for a further year or so before moving.

I obviously don't know the terms of your lease .but I would suggest a quick visit to the CAB armed with a copy of it would get you all the information you need :)

The management/trustees what ever should already have copies of your paperwork .. it is NOT up to you to supply them.

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redelitev6

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Re: bankrupt landlord
« Reply #4 on: 24 January 2013, 17:32:35 »
Sad situation to be in , apart from the CAB do any local solicitors do "free" half hour sessions ? or at the very least try your local council housing dept
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Elite Pete

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Re: bankrupt landlord
« Reply #5 on: 24 January 2013, 17:37:31 »
It does depend on your contract. If you started on an AST assured short term lease they normally run for 6 months then after the initial 6 months are up the contract just runs but can be ended by you in writing giving 1 months notice or by the landlord in writing giving you 2 months notice. That's how it was when I was a landlord but may have changed recently
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Elite Pete

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Re: bankrupt landlord
« Reply #6 on: 24 January 2013, 17:39:05 »
Oh and I also think it depends on what sort of mortgage he had as well, assuming it was mortgaged
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Aundie

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Re: bankrupt landlord
« Reply #7 on: 24 January 2013, 18:19:31 »
They won't tell me what kind of mortgage he had as I read if its not a buy to let it could be worse for us as we won't be seen by them as tenants. I have a short assured tenancy with a 2 month notice period. The house was bought in 2008 for 110k according to zoopla and is now worth about 80k. Id like to attempt to buy but my limit just now is about 65k.
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albitz

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Re: bankrupt landlord
« Reply #8 on: 24 January 2013, 18:23:27 »
Depending how things go in the near future it might be worth offering your 65k.The time,money and effort it takes to take you through the legal system to leggalu evict you might make it an attractive offer to whoever now owns the property. ;)
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STMO123

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Re: bankrupt landlord
« Reply #9 on: 24 January 2013, 18:26:35 »
You could panic....or not. Try to look at it calmly....difficult, I know. If you are up to date with your rent and have been a good tenant you must have rights. I don't know what they are but, as advised earlier, CAB or the like would.
Sorry for my curt reply earlier.
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STMO123

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Re: bankrupt landlord
« Reply #10 on: 24 January 2013, 18:31:26 »
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acope

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Re: bankrupt landlord
« Reply #11 on: 24 January 2013, 18:33:19 »
I once rented a shop/house premises in the early `70`s,and the landlord went bump for some reason, they offered to sell it to us for £15.000, I would have paid that for the size and location of the property, my financial guy asked me what cash I had available, which was approx £4.500, made an offer of that and they accepted it without a whimper.sold it on later for a very nice profit..
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ALAN

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Re: bankrupt landlord
« Reply #12 on: 24 January 2013, 18:37:01 »
Quote from: STMO123 on 24 January 2013, 18:26:35
You could panic....or not. Try to look at it calmly....difficult, I know. If you are up to date with your rent and have been a good tenant you must have rights. I don't know what they are but, as advised earlier, CAB or the like would.
Sorry for my curt reply earlier.



as stmo said you have rights and if the house is being repossed by the bank  they usually  market the house for the outstanding amount so as said offer your £ 65,000,but i would defo go and speak to your local CAB (or what ever it is in scotland)




as for his curt reply it is a result of him being at deaths door earlier this week :y
« Last Edit: 24 January 2013, 18:39:24 by the alarming man »
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Re: bankrupt landlord
« Reply #13 on: 24 January 2013, 20:35:51 »
the consumer action group would be a great place to start :y
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omegod

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Re: bankrupt landlord
« Reply #14 on: 24 January 2013, 20:54:05 »
old work colleague of mine rented a house for a few years and tried to contact the landlord for repairs, no joy so stopped paying rent, tried really hard to trace the owner, 12 years later never heard a thing and legally claimed the property as she had proof of maintenence and repairs. Was worth 75k at last valuation :y

No relevance to this thread but nice story all the same.
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