SarahBell Posted December 18, 2016 Share Posted December 18, 2016 Clicked on an ad and found this... A 'RECEIVER OF RENT' MAY BE APPOINTED AND/OR THE PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGERead more at http://www.postoffice.co.uk/mortgages/buy-to-let/ways-to-apply what's a receiver of rent? Quote Link to comment Share on other sites More sharing options...
long time lurking Posted December 18, 2016 Share Posted December 18, 2016 (edited) Just like an administrator/receiver of a failed company BTL not paying the mortgage out of the rental payments the bank have the right to appoint someone to collect the rent to ensure they get their cut Edited December 18, 2016 by long time lurking Quote Link to comment Share on other sites More sharing options...
oatbake Posted December 18, 2016 Share Posted December 18, 2016 This is just an LPA receiver isn't it? Pretty standard where a BTL mortgage is in default? It would be an interesting tactic if lenders are starting to use this option more rather than resort to posession proceedings: http://www.tanfieldchambers.co.uk/resources/articles/can-an-lpa-receiver-be-prevented-from-selling-a-secured-property Quote Link to comment Share on other sites More sharing options...
long time lurking Posted December 18, 2016 Share Posted December 18, 2016 3 hours ago, oatbake said: This is just an LPA receiver isn't it? Pretty standard where a BTL mortgage is in default? It would be an interesting tactic if lenders are starting to use this option more rather than resort to posession proceedings: http://www.tanfieldchambers.co.uk/resources/articles/can-an-lpa-receiver-be-prevented-from-selling-a-secured-property I think this action is only used util they can take vacant possession (they are not going to evict a tenant half way through a tenancy contract) Quote Link to comment Share on other sites More sharing options...
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