So the flat I'm renting has been repossessed

Raging_Ninja

So far the advice I've gotten has been to:

1. Take an inventory of the everything I own to make sure the bank doesn't get any funny ideas about what they own.

2. Try to get the bank to take over the deposit.

3. If I like anything in the flat, get it out now before the bank gets around to doing their own inventory. Mod note: theft is illegal

Anything else I should be aware of?

Stigura

Rent somewhere else.

B.A._Baracus

Flat is getting repossessed so the smart man would move on.
By that I mean what positives can come from this? only negatives. Only hassle.

Look I am no legal expert on this matter <mod snip>

pickarooney

Surely it's in the bank's best interest to have a tenant there paying rent instead of the fat sitting empty?

And if you're paying rent each month, what is the landlord doing with the money? If he's using it to pay the mortgage, even if it's not enough to cover the repayments fully, they'd be nuts to repossess it and get 0 per month.

Fr_Dougal

pickarooney wrote: »

Surely it's in the bank's best interest to have a tenant there paying rent instead of the fat sitting empty?

And if you're paying rent each month, what is the landlord doing with the money? If he's using it to pay the mortgage, even if it's not enough to cover the repayments fully, they'd be nuts to repossess it and get 0 per month.

Depends on the current condition of the flat and how long the tenant is there, if it's in good condition and the rent isn't current market value they would be better off taking vacant possession and charging higher rents.

Op, have a chat with the bank and see if they're willing to have you as a tenant. Failing that, they will have to give you sufficient time to find alternative accommodation. Best of luck.

Samaris

Mod: Moving this thread to Accom and Property. The charter over there is very different, so please read before continuing the discussion.

athtrasna

Samaris wrote: »

Mod: Moving this thread to Accom and Property. The charter over there is very different, so please read before continuing the discussion.

Mod note
Indeed, we have had to delete many posts before opening the thread to discussion on here.

Please note, any suggestions of theft of the landlord's property will immediate attract sanctions.

Raging_Ninja

I wasn't asking for advice, I deliberately put this in AH to see if I could get any chuckles.