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Djini

When Btl Property Gets Repo'ed...

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If the LL has obtained permission from lender to let out, or they have a BTL mortgage. The lender has to honour the contract, usually the minimum required.

If not, they can throw you out with no notice.

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You can get two months leeway from lender - contact them toot sweet when you get notice of court hearing for repo - or go to court and get two months from the judge.

http://www.mablaw.com/2010/04/the-mortgage-repossessions-tenant-protection-act-2010/

edit: this post is in response to the non-BTL situation, but the reply function is a mess. If the property is BTL, lender has to honour the rental contract.

link - can't make it clickable

Edited by okaycuckoo

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What sort of ******ed up country would allow something as important and fundamental as the management of people's residential dwellings to fall en masse into the hands of any Tom Dick and Harry who fancies trying his hand at being a landlord with borrowed money?

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What sort of ******ed up country would allow something as important and fundamental as the management of people's residential dwellings to fall en masse into the hands of any Tom Dick and Harry who fancies trying his hand at being a landlord with borrowed money?

I know, it's the reason why there is going to be a lot of pain, particularly in the BTL sector in the coming years.

It's only their blinkered stupidity which allow them to sleep at night.

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I know, it's the reason why there is going to be a lot of pain, particularly in the BTL sector in the coming years.

It's only their blinkered stupidity which allow them to sleep at night.

This is the reality of renting in this country. Assured Shorthold Tenancy (they always are these days) Provided the deposit has been properly lodged and notice correctly served then two months notice WITHOUT ANY REASON is good enough. NO wonder people want to buy mortgage up to the hilt in order to get some security. Tenants have no rights whatsoever and squatters rights are pretty much a myth also btw.

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What sort of ******ed up country would allow something as important and fundamental as the management of people's residential dwellings to fall en masse into the hands of any Tom Dick and Harry who fancies trying his hand at being a landlord with borrowed money?

I think most countries allow anyone to rent out their property to someone else (Cuba is an exception, there may be others). The problem in the UK is that tenancy agreements make long term rental uncertain and unattractive. If a family could take out say a 5 year contract in full confidence that they can't be kicked out with 2 months notice then you might find the speculators and chancers will be put off dabbling with BTL, leaving the more serious landlords to get on with it.

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I think most countries allow anyone to rent out their property to someone else (Cuba is an exception, there may be others). The problem in the UK is that tenancy agreements make long term rental uncertain and unattractive. If a family could take out say a 5 year contract in full confidence that they can't be kicked out with 2 months notice then you might find the speculators and chancers will be put off dabbling with BTL, leaving the more serious landlords to get on with it.

And a suggestion to move things in that direction would be portrayed as an unjustly restrictive, uncompetitive intrusion :(

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What sort of ******ed up country would allow something as important and fundamental as the management of people's residential dwellings to fall en masse into the hands of any Tom Dick and Harry who fancies trying his hand at being a landlord with borrowed money?

Um

****ed up countries like:

Germany, USA!

tim

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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