Got phont call on behalf of liquidator of my rented flat

[TimberWolf]

I am not being kicked out just yet, the flat can be sold to me as well and the price sounded pretty reasonable... calling mortgage adviser tomorrow

calling them to say I will offer a 1/3 of that and will pay with cash

[Paddy]

I believe this is incorrect. ATW has a contract with the landlord. When the owner changes, the contract disappears. If you have paid rent up front then you may become an unsecured creditor. He may not be entitled to notice - a possession order is just that. Advice IANAL:

1. Check the All about renting sub-forum of housepricecrash.
2. Do not pay any rent until you are clear what your position is.
3. Get advice.
4. Check your deposit is in Tenancy Deposit scheme or similar. Again, check housepricecrash.
5. It is essential that you have receipts and other documentation showing that you own any sofas (or that the hire purchase provider does if that is more realistic).

Good luck - it's tulip. Blame Thatcher.

I think you are right. AtW has probally lost his deposit as well.

What Rights As A Tenant Do I Have If My Landlord Goes Bankrupt?

It can be broken down into two categories, one is if the mortgage the landlord has is a buy-to-let mortgage, and the second category is if the mortgage the landlord has on the property is not a buy-to-let, but a standard/ordinary mortgage. But the bottom line in both of these instances is not good for the tenant.

If the mortgage the landlord has is a buy-to-let, then the mortgage company should be aware there is a tenant in the property. Once the property is repossessed the mortgage company will appoint a receiver to collect the rent from the tenant. Sounds fair enough, you are just paying rent to a different landlord. However, the mortgage company can begin the process of evicting the tenant if they choose and this can be done, in some instances, with as little as two (2) months notice.

If the mortgage the landlord has is not a buy-to-let mortgage, and if the property is repossessed, the lender can have the tenants evicted even quicker as they are not authorised to be living there by the lender.

I don’t know about you, but I have never once asked my previous landlords if the property has a buy-to-let mortgage on it or not.

One thing that makes this even more difficult for tenants is that the mortgage company will not discuss any of this with the tenant; it is none of their affairs and they are not on the mortgage. Under the Data Protection Act the lender cannot discuss this with the tenant. And a tenant may never even be aware of the pending repossession since they are not notified by the lender, the landlord may not advise them, and they may discard any post addressed to ‘occupant’ as junk.

Lastly, if a tenant wanted to purchase the property from the mortgage company after the repossession, while it may be possible, the lender is obligated to try and get the best price for the property as they can on the open market, thus making it more difficult for the tenant to purchase the property.

The government, recognising these risks, introduced provisions in The Housing Act 2004 to ensure that tenant deposits are protected under a Tenancy Deposit Protection Scheme.

Private residential landlords should therefore now be aware that they must always use a Tenancy Deposit Protection Scheme to safeguard any deposit paid in relation to ‘assured shorthold tenancies’ entered into or renewed after 6 April 2007

[doodab]

If you have an assured shorthold tenancy all of your rights under the current tenancy agreement transfer to the new owner. The new landlord can ask you to leave with two months notice, unless the leaving date would be before the end of your fixed period in which case you can stay until then. They have to follow the same rules about rent increases etc.

[minestrone]

you could just ask for shares in SKA

Don't interrupt him, he has a 5 year plan.

[conned tractor]

calling them to say I will offer a 1/3 of that and will pay with cash

For a Birmingham City Centre "luxury appartment" ....more 1/6.

[MarillionFan]

I am not being kicked out just yet, the flat can be sold to me as well and the price sounded pretty reasonable... calling mortgage adviser tomorrow

No. You don't want to buy. You'll lose money. Lose. Lose. Lose. Lose.

[mudskipper]

Refuse to move and claim squatters' rights.

[Old Greg]

Blame Stalin, Lenin & Marx he is over here sponging off the state.

It's Gorbachev and Yeltsin's fault he's allowed out.

[AtW]

It's Gorbachev and Yeltsin's fault he's allowed out.

Putin's actually.

Will be checking with adviser tomorrow how much I can borrow - soon I might be arguing to death that house prices ain't overvalued afterall and BoE policy is the best ever is

[minestrone]

Refuse to move and claim squatters' rights.

That is all we need, another eastern european without money unable to pay for a house being encouraged to sponge.