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The Conservatives have drawn up proposals to ease the burden on tenants facing eviction due to their landlords’ properties being repossessed.

Using data from the Council of Mortgage Lenders, the opposition party says there could be close to 10,000 repossessions of properties with tenants this year.

It says under the current system, thousands of families could be forced to scrabble around for housing with little notice. As a result, it wants the Government to immediately implement an increased notice period of between 5 to 7 weeks for any court repossession hearing.

The Tories also say the Government should also be working with lenders to consider allowing tenants to remain in the repossessed property under licence pending sale. Also it says the Government should be encouraging courts and lenders to allow tenants to be heard at repossession hearings

Grant Shapps, Shadow Housing Minister says: “With 10,000 rented properties potentially facing repossession, the resulting upheaval in tenants’ lives could be devastating for families across the country. It’s clear that tenants are the forgotten victims of repossessions.

"We’re calling for the Government to take up our proposals and help protect hard-working families from suddenly discovering that the roof is about to be taken away from above their heads.”

If you are a landlord facing repossession, try and get some help before it ever comes to your tenant's home being at risk. Talk to your mortgage adviser about remortgage or negotiating a plan with your lenders so as you can handle your property portfolio during the downturn.

SOURCE: Conservatives, 13/03/09

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