Traditionally, if a home owner or investor defaulted on their mortgage, the lending Bank would repossess the property, instruct a 'Receiver of Rent' to manage the tenancy out, and then engage with a local Estate Agent to sell the property on the open market in order to minimise any further financial loss on the loan. The selling Agent would usually be given a maximum of 6 - 8 weeks to find a buyer for the property and if they were unsuccessful, the Bank would then put the house up for auction to be snapped up by ...
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Buy-to-Let Mortgage Lenders - The Next Wave of Landlords
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