Protecting tenants when a lender re-possesses a property.

Tenants to gain protection on re-possession.

Tenants in properties let by financially unstable landlords could be given greater protection if their homes are repossessed under proposals published today.

Under the present law any tenants can be evicted if the lender takes ownership and possession of the property.  many tenants are blissfully unaware that their landlord is in financial difficulties until that very last moment.

It appears that may land lords have not advised their lenders that they ate letting and have done so to avoid paying higher rates of interest.

The new legislation would aim to give innocent tenants a breathing space between the repossession by the lender and give them some time to re-locate.

Read the full story following the link below