New house - tennant - massive debt by owner :-(
Discussion
Have the bank taken possession/appointed an LPA Receiver or Mortgagee in/without possession?
If you have a tenancy you are fairly secure the only difficult point is if the bank have not consented to the lease.
Withhold your rent to owner and keep in your account/separate (or if you do continue to pay keep a record of your payments and do not pay in cash).
if I were you id get in touch with their bank and make an offer. Your offer will likely be far and above the net realisations the bank would receive if they go through with possession proceedings.
If you have a tenancy you are fairly secure the only difficult point is if the bank have not consented to the lease.
Withhold your rent to owner and keep in your account/separate (or if you do continue to pay keep a record of your payments and do not pay in cash).
if I were you id get in touch with their bank and make an offer. Your offer will likely be far and above the net realisations the bank would receive if they go through with possession proceedings.
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