Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?10:34 AM, 6th November 2020
About 4 weeks ago 36
After the Bank of Ireland interest rate hike, I fell £1000 in arrears with my rental property by mid 2014. They appointed Templetons as a receiver who are based in Cardiff (The property is in Sheffield). I settled the arrears, but despite asking, the property remained in the control of the receiver.
I had numerous issues of poor management reported by the tenant to the point where I made a formal complaint to BoI in 2017. Obviously nothing came of the complaint.
Subsequently an environmental health warning was issued who’s the receiver said they were acting upon after I called them to check. I heard no more.
A month ago, I received a council tax bill leading me to believe the tenant had vacated (who had lived in the property for the entire duration of LPA receiver management). Then I got notification that my mortgage debt had increased by 10k!!!!
A week later I got a call from a friend to say they had seen a for sale sign up, and sure enough, the property is on the market. The receiver has stated that it is not a viable rental despite the rental income being twice the mortgage cost and there never being an issue in 15 previous years.
Turns out the receiver didn’t act on the environmental health notice and the council fined them and carried out the work to the time of £8k!!
I appear to be liable for everything and look like losing my house.
Is there anything I can do????
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