Help! Private Tenant letter received addressed to the Occupier UCB Home Loans

[bombay121]

Hi Guys,

 

Me and my partner have been in a property for 6 months and this month we are planning to renew tenancy however... this morning I received 2 letters, 1 addressed to the landlord and the other addressed to the occupier so I opened the one addressed to the occupuer.

 

It's from 'UCB Home Loans' and it reads as follows:

 

UCB Home Loans Corporation Ltd has appointed a Receiver. An advice sheet is attached which outlines the role of a Reciver for you.

 

Your Landlord is aware of this action and the Recivers, Mr Bxxx and Mr Dxxxx will instruct managing agents Templeton who will contact you shortly to provide you with instructions as to how to make future rent payments. Provided your tenancy is valid and your rent is up to date, the appointment of the Receivers will not affect your legal rights.

 

If you have any questions the Receivers will be pleased to assist you.

 

I would recommend that you also make contact with Citizens Advice Buereau who can give you free independent advice.

 

Yours Sincerely

 

Now to me this sounds like a home repo or the Landlord has gone Bankrupt can anyone confirm what this means. The advice sheet attached is entitled "Law Property Act 1925" again doesn't really mean a lot but judging from experience of my parents home repo this sounds just that, can anyone give me some advice?

 

My Fiancee is 28 weeks pregnant and I could really do without this!

 

Many thanks

Dan

[LaughingGirl]

Well, it sounds to me like he's being made bankrupt. UCB are a part of Nationwide - they used to offer specialist mortgages. Are you at the end of a 6 month tenancy?

[bombay121]

Yes I am, last week I received the new TA to sign for another 6 months.

[LaughingGirl]

Right-O.

 

I was in the same situation a couple of years ago, but after only two months in the property. What happened in my case was that the OR took over the rent account and gave us two months notice to leave.

 

From what I gleaned during that period, in between tearing my hair out, since your landlord's mortgage appears to be with UCB (who are part of Nationwide and deal in specialist mortgages such as buy-to-let) they will be aware that he has tenants, and you should get the two month notice period.

 

Get in touch with your local housing authority - they may not be able to offer much, but in the event that you do receive notice it's worth getting the ball rolling now.

 

If I were you, I'd contact Shelter, and see what they have to say about the situation. In my experience, they are really, really helpful.

[R J Dearden]

Once you have taken advice the CAB as stated they MAY suggest you sign the 6 month extension/new agreement and return it ASAP and then write to the firm confirming receipt of their letter and informing them that you have a fixed term tenancy which currently ends on such a such a date (ie the end of the new term).

[mariner51]

Anyone thought of asking LL what is going on. perhaps a personal visit?

 

He may be too embarrassed, then again some info may be forthcoming.

 

Get the new AST returned asap or at least keep paying rent as specified. Perhaps apprise UCB of your partner's pregnancy and due date.

Even if house was repo'd today, you should get at least 2 months to vacate. May be UCB will retain the property pro temp and become you LL.

[bombay121]

Hey guys,

 

Thanks for the advice so far. I have spoken to the landlord, she owns a farm across the road from us so we are on very good terms. She said they had some problems keeping up with the mortgage payments as the house had been empty for some time. She assures me that everything has now been sorted, I gave her the letter and said she would ring them first thing on Monday.

 

I have rang the estate agent and explained the situation, they said they would get head office to call me on monday. My initial thoughts were also to complete the new agreement however I am not happy to pay the £100 admin fee to renew the paperwork. Not a lot I can do now so will sign the paperwork and post without the cheque on monday 1st recorded. I am not happy to take the LL word a gospel as I want to speak to the EA first.

 

I am thinking that they would rather keep someone in the house paying rent then try and sell it empty. Before we took the house on it had been on the market for years as it was in a state of disrepair. I don't care who I pay rent to I just do not want to have to move house so close to having a baby, we moved in 11/2010 as my parents house got repo'd and we were forced to move again in 06/2011 as previous landlord wanted the house back I don't think I can face moving again.

 

Also think I'm going to contact the council about declaring ourselves homeless, I don't have an issue paying rent but I have no way of paying another deposit so if worse comes to it I can get them to stump the bond until I get the money back from this place.

 

Many thanks as always

Dan

[bombay121]

Hi Guys,

 

So I have spoken to agent who is acting on behalf of the bank. Had a nice chat with the guy there and basically the landlord has failed to keep up with mortgage payments so they have taken receivership of the property and they effectively become our new LL.

 

Now I don't understand what this receivership thing is, is it the same as a reposession? The guy explained that they would send someone to inspect the house and decide whether to sell it or keep it as a going concern with us paying rent. In his words whichever paid the arrears off quickest. Now I've been through a repo and they basically had someone come and change the locks etc but this sounds different can someone explain?

 

I told him that we have just signed a new AST for another six months and he said that it would definately be honoured, however as I explained above I haven't sent this in so my question is do I send it in ASAP?

 

I have spoken to the council who have advised there is ample accomodation available and as I explained the situation she said it would be a lot easier if they just paid the bond + 1st months rent and we go private if worse came to it. However after all the phonecalls today I feel much better about the situation.

 

Any advice on the above would be great.

 

Cheers

Dan

[LaughingGirl]

Basically, the house isn't being re-possessed. Once the house has been valued, they'll decide whether it's worth selling it or not in order to recover the money your landlord owes. IIRC the receiver has to get the best possible value for your landlords creditors - if the house is in negative equity for example, it would be better to keep you in there and paying rent for a marginal profit than selling it off at a loss. If it is sold, they may well sell it with tenants in-situ or wait until towards the end of your 6 month tenancy and then give you notice.

 

I'm not completely sure about the tenancy agreement - my gut says get it in pronto, but others might feel differently.

 

Good news on the council front - if it does all go pear-shaped for some reason at least you've got options.

 

Ye gods, I should really have woken up properly before I typed this.