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  • Rental advice, landlords gone bust
  • mrmo
    Free Member

    Got told today that the land lord has gone bust and had the mortgage suppliers surveyor pop round. he has told us that we won’t be asked to move out, how likely/unlikely is this?

    Three_Fish
    Free Member

    Not sure how anyone here can answer that – unless they happen to buy the house.

    Stoner
    Free Member

    Id expect that you will continue to have the same level of protection you’ve always had on an AST, i.e. not a lot – couple of months.

    In terms of the mortgagor’s strategy, they will probably foreclose and look to sell the property asap, either by agent or auction. The property will more than likely be sold with you as a sitting tenant, and depending on the numbers maybe attractive to a buy-to-let investor, but I wouldnt bank on it, as an owner occupy can buy and serve notice under your existing tenancy.

    mrmo
    Free Member

    landlord has circa 30-40 properties if that makes any difference

    hh45
    Free Member

    I think Stonor has it covered. your rights are unchanged but you will get a new owner and they may wish to live there rather than rent it out. sit tight for now.

    john_drummer
    Free Member

    i’ll add a “but start looking for other options just in case” to the end of that.

    many years ago, me & then girlfriend were renting a small house near the uni in Bradford; landlord came round one day & said he was selling.

    We started looking at other rental properties but decided also to look at buying somewhere.
    To cut a long story short, we ended up buying a house in a rough part of town that we didn’t know.

    It took us 20 f***ing years to get rid of that f***ing house 👿

    Elfinsafety
    Free Member

    Yeah but you had some excellent curries I bet?

    john_drummer
    Free Member

    not the point. you can get excellent curries anywhere in Bradford 😉

Viewing 8 posts - 1 through 8 (of 8 total)

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