Reciver runing a BTL

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    Reciver runing a BTL

    Bit of a long story, but, last year managed to get into arrears with our rental property, after some time TMB instruct a receiver to managed the property, all was ok (not an ideal situation to be in) as the tenant was paying the rent, our payments came down as the mortgage dropped of its fixed rate and we were trying to catch up with the arrears. Now suddenly the receiver has issued a section 21 (to a long term paying tenant?!?) to return the property back to TMB with vacant possession. When I spoke to TMB they had no knowledge of the receiver doing this and wouldn’t until they get the house back vacant then they would take action to reposes the property, with the tenant in place this makes paying the arrears a lot easier when we don’t have to find the mortgage as well.

    Now my question is can the receiver do this?

    Surely it’s in everyone’s interest to keep a long term tenant, TMB get the mortgage paid plus were are reducing the arrears and the tenant stays happy where they are. They claim they are acting as the landlord’s agent, but we would never want to evict a paying tenant that is covering the mortgage.

    #2
    These third party asset agents have the job to manage a property with the tenants in until such a time their fixed term comes close to an end and then serve notice to return the property to the Lender with vacant possession. Its not normally a long term solution.

    Comment


      #3
      The receiver can do as he has done. Although he is deemed to act as your agent that does not mean he has to follow your instructions.

      You need to discuss the situation with TMB and persuade them to restrain the receiver.

      Comment


        #4
        thanks, have done TMB are being helpful the other 3 I have with them haven’t had a payment missed and having a payment plan has helped.

        However I have had a look at the tenants section 21 and having been on the receiving end of Shelters wrath I now know what wrongly dated and addressed section 21 looks like and this has a number of mistakes, I don’t want to aggravate TMB but if the receiver pushes I am looking at this as the last resort. Obviously my priority is to get rid of the arrears asap and take control back of the property.

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