Hello – just looking for some advice. Does anyone have any experience of the following.
I am a resident in N. Ireland. I have a BTL property in County Donegal.The property has been up for sale since 2014 but isn’t moving, it is currently rented out. The mortgage was in arrears a few years ago and I managed to negotiate a new payment plan. The mortgage was sold by AIB to a vulture fund as part of Project Cypress in April 2017.This is managed by Pepper/Beltany who have been in contact in the past year with regular statements. In the past month the case has been handed over to the official receiver. The tenant has received a letter telling him not to pay any more rent. Also, I have been contacted by what looks like a firm of solicitors requesting that I send personal details, accounts and details of selling agent.
My question is has anyone any experience of this and have they any advice to offer in how to deal. I am thinking of giving the tenant notice. I have recently been able to access a lump sum from my pension. My ideal aim would be to offer a settlement sum. (I had told Pepper I was considering this).
Is it too late to make an offer now that the official receiver is involved. Just not sure what the process is. I could always just walk away because I am a UK resident. Any advice appreciated.
I am a resident in N. Ireland. I have a BTL property in County Donegal.The property has been up for sale since 2014 but isn’t moving, it is currently rented out. The mortgage was in arrears a few years ago and I managed to negotiate a new payment plan. The mortgage was sold by AIB to a vulture fund as part of Project Cypress in April 2017.This is managed by Pepper/Beltany who have been in contact in the past year with regular statements. In the past month the case has been handed over to the official receiver. The tenant has received a letter telling him not to pay any more rent. Also, I have been contacted by what looks like a firm of solicitors requesting that I send personal details, accounts and details of selling agent.
My question is has anyone any experience of this and have they any advice to offer in how to deal. I am thinking of giving the tenant notice. I have recently been able to access a lump sum from my pension. My ideal aim would be to offer a settlement sum. (I had told Pepper I was considering this).
Is it too late to make an offer now that the official receiver is involved. Just not sure what the process is. I could always just walk away because I am a UK resident. Any advice appreciated.