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Your advice re: banks repossessing the property you're renting.

tog_in_sox

By tog_in_sox
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tog_in_sox

tog_in_sox

Posted
Posted

It looks likely that my current private landlord will be seeking bankruptcy. Has anyone got any advice as to whether we may be able to negotiate continued (short) tenure or indeed it might be offered by the repossessor? Or any good estimates on time from petitioning by landlord to "eviction" notice from repossessor? Do we need to be wary of heavy-handed tactics by the repossessor (threat of bailiffs, locks changed, etc)? Sure I'll be looking for alternative accommodation but present market rates suggest that looks like a big hike in rent.

I'm aware that some property management firms offer reasonable rates for tenants to occupy vacant properties (property guardians), anyone have any recommendations or constructive advice about that as an option?


Many thanks in advance for your guidance.

ClareC

ClareC

Posted
Posted

Are you still in the minimum term for your Assured Shorthold tenancy? Legally you have to be given at least two months notice, to end any time after the end of the Assured Shorthold tenancy.


The repossesser will have no greater rights than the landlord in gaining possession from you. I would bank on getting at least 2 months notice but the reality is they will invariably sell the property so may not serve notice straight away.

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