Protection for residential tenants against repossession by landlord’s lender comes a step closer
Regulations have been made to give some protection to residential tenants whose tenancies did not bind their landlord's mortgage lender during repossession proceedings.
Section 2 of the Mortgage Repossessions (Protection of Tenants etc) Act 2010 (MRPTA 2010) provides that a possession order for a mortgaged property that consists of, or includes, a dwelling-house may only be executed:
§ If the mortgage lender gives notice at the mortgaged property of the mortgagee making an application to the court for a warrant for possession of the property.
§ After 14 days (beginning with the day on which the notice is given) has elapsed.
§ The notice must be in the form set out in the Schedule to the Regulations.
The Regulations will come into force on 1 October 2010.
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