Jump to content
House Price Crash Forum

When Btl Property Gets Repo'ed...


Recommended Posts

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
Link to post
Share on other sites

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.

Link to post
Share on other sites

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.

Link to post
Share on other sites

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.

Link to post
Share on other sites

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 :(

Link to post
Share on other sites

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

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 439 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.