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looking to go BR and looking at repercussions

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Rdfr2010
Starting Member

United Kingdom
4 Posts

Posted - 21 September 2010 : 09:24:55

Hi I'm looking to go BR and looking at all the repercussions I have a house I'm renting out and the tenants are in and signed a 12 month tenencey if the house goes will I get hit from the tenants any legal implications

Richard P
Senior Member

United Kingdom
1701 Posts

Posted - 21 September 2010 : 11:43:59

Hi RDFR

When i initially planned to go BR, I had a number of let properties, I put off going bankrupt whilst all of the tenants left the properties

When you go BR the official receiver may take all of the rent but not pay any of the mortgage ! The OR also takes over responsibility for the tenants.

Lots of variables that need to be considered

I would give one of the experts a call and let them help you plan the process

regards Richard,

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