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Landlord not paid his mortgage? Being Evicted?

The BBC recently reported that as the downturn bites, lenders are appointing more receivers of rent. In this process, a tenant is allowed to remain in a property instead of losing their home.

"A receiver of rent" - collects rent on behalf of a lender when the landlord defaults on the mortgage.

The BBC recently reported that as the downturn bites, lenders are appointing more receivers of rent. In this process, a tenant is allowed to remain in a property instead of losing their home. This also gives the lender time to decide what to do with the property, whilst offsetting the mortgage interest against the rent. That in turn can help reduce the arrears faced by the landlord.

So, If you are a tenant whose property is being repossessed by your landlord's mortgage company, it is always worth getting in touch with the mortgage company and suggesting that they should consider appointing a receiver of rent and allow you to stay in the property.



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