Will we lose our home??

[poppy160]

We've recieved a rather worrying letter this morning from the Landlords Mortgage company, saying that our tenancy is in 'Direct contravention of the terms and conditions of the mortgage,' and as such, is unauthorised by them..and as a result they reserve all their legal rights to take any protective action they deem necessary to protect their interest in the property, and that we should seek independant advice and inform landlord/letting agency immediately..

WTF does this mean?? It sounds as if their Mortgage doesn't allow them to Let..but if so why is it our problem to deal with? We moved in in October and signed a 6 month contract so I'm guessing we're safe till then, but is this something that can be resolved by changing the Mortgage or something? Letting Agency is closed for Christmas and we don't deal with the landlord directly..I just don't see why they've contacted us when there's sod all we can do about it!!

 

[mary70]

if the landlord has not taken out a mortgage for tennants hun then i an afraid they are within their rights to take back the house or make the landlord evict the tenants, my brother has just been through the same thing but he was the landlord and didnt know he needed a different mortgage maybe see cab

 

[poppy160]

Bugger

 

[poppy160]

THanks for the reply Mary, guess we'll just have to sit tight till after Christmas and see what the letting agency say, mgiht be the perfect excuse to actually buy a property, too unsafe to let really.

 

[Bloom]

Im sorry to hear this poppy and just before xmas too i would not worry about it pass the letter on to the letting agent after xmas and let them sort it out. It may be easily resolved by the landlord changing his mortgage. Im sure the last thing everyone wants is for you to be evicted and hopefully will be sorted out before it gets to that.

 

[mary70]

try not to worry to much hun easier said than done i know, but hope you have a fantstic christmas and it gets sorted quicly in the new year

 

[poppy160]

Thank you, everything will be fine I'm sure. I'm not too worried cause we've got at least 2 places to go if we are asked to leave, and it's not like it's anything we've done wrong, it's just unfortunate..and inconvenient!

 

[rhian85]

hi there....
OH is very into property/developign and buy to let etc as we are thinking of getting a buy to let mortgage...i have shown ur post to him and he said to tell ur landlord to contact mortgage company asap as he obviously has not got a buy-let mortgage...he needs to explain to his morgage lender that he did it as he felt it would better to take out a standard mortgage financially than a buy to let.
apparently he said u should not loose house but ur landlord will be forced to pay a lot more money back then he is/should be doing.

 

[trixipaws]

no idea about this but i feel 4 u hun

 

[poppy160]

Thanks for the replies, Rhian you're post is relieving!! I guess we will just have to wait and see..My OH and I haven't let it ruin our Christmas..we'll be fine watever happens Will let you know what the outcome is though xx