Has anybody been in this same situation that can offer advice urgently??
We originally purchased our home in 1999. In 2006 due to a change in circumstances and drop in income and having explored many options, we decided we would sell to a company to rent back, this way we could stay in our home and reduce our outgoings. As part of the agreement and as stated in the contract (rider), we were given a buy back option over a 5 year period, along with an agreed rent and the option to stay on as long as we liked whether we bought back or not beyond the 5 year period.
Just 2 years on we have received a letter from the LPA receivers, advising us they have been appointed to deal with all aspects of the property management. We have contacted them in regards to our situation, but have been told no decision will be made or whether we may have any rights to stay or not until they have seen any paper work we have. We have never been given a tenancy agreement as such, as I pointed out all the information regarding renting and buy back option was included in the contract that was signed when the house was sold.
We have always paid our rent and are sending proof of this with copies of all our documentation regarding the sale, but realistically I have no idea as to where we may or may not stand.
I expect there are other people out there who have been in this situation who I hope can offer me some advice.
Thanks in advance.