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  • FIRST POST
    • bobobski
    • By bobobski 20th Apr 17, 7:28 AM
    • 593Posts
    • 1,379Thanks
    bobobski
    Letting agents viewing for "mortgage purposes"?
    • #1
    • 20th Apr 17, 7:28 AM
    Letting agents viewing for "mortgage purposes"? 20th Apr 17 at 7:28 AM
    My landlord's letting agent contacted me on Tuesday afternoon to ask for access to my flat on Wednesday. Usually I get a week's notice when they want to access, I think the lease says I must get 24 hours' notice, this was less than 24 hours' notice. Odd thing number one. (In an effort to remind them that I'm a good tenant I didn't object to the short notice.)

    The person accessing was from the agent's sales department. Odd thing number two.

    The stated reason for required access was "mortgage purposes". Odd thing number three.

    Do you think my landlord is selling? The fixed term of my lease expires in 2 months.
    #18: Save 12k in 2017: £4,586.84 / £12,000 (38.22%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £15,458.02 / £60,000 (25.76%) | Emergency fund by 31/12/2020: £871.24 / £5,000 (17.42%)
Page 1
    • giddypenguin
    • By giddypenguin 20th Apr 17, 7:42 AM
    • 786 Posts
    • 874 Thanks
    giddypenguin
    • #2
    • 20th Apr 17, 7:42 AM
    • #2
    • 20th Apr 17, 7:42 AM
    I think if he's not selling he's definitely thinking about it. Probably worth having a look at what's around in your price range to give you a running start...
    11/3/11: Mortgage Started...
    31/12/16 40% Mortgage Paid
    Mortgage Free Date: March 2027 Jan 2024 - now aiming for Jan 2022
    • mortgageFTB
    • By mortgageFTB 20th Apr 17, 8:02 AM
    • 90 Posts
    • 80 Thanks
    mortgageFTB
    • #3
    • 20th Apr 17, 8:02 AM
    • #3
    • 20th Apr 17, 8:02 AM
    Or your landlord is possibly remortgaging with another lender and this is probably their valuation.
    • bobobski
    • By bobobski 20th Apr 17, 8:04 AM
    • 593 Posts
    • 1,379 Thanks
    bobobski
    • #4
    • 20th Apr 17, 8:04 AM
    • #4
    • 20th Apr 17, 8:04 AM
    giddypenguin that's what I thought/was afraid of, but glad that is objectively a possibility and not just me panicking.

    mortgageFTB if that's true, wouldn't the lender be doing the viewing/valuation?
    #18: Save 12k in 2017: £4,586.84 / £12,000 (38.22%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £15,458.02 / £60,000 (25.76%) | Emergency fund by 31/12/2020: £871.24 / £5,000 (17.42%)
    • BLOW FLY
    • By BLOW FLY 20th Apr 17, 8:19 AM
    • 49 Posts
    • 44 Thanks
    BLOW FLY
    • #5
    • 20th Apr 17, 8:19 AM
    • #5
    • 20th Apr 17, 8:19 AM
    Or your landlord is possibly remortgaging with another lender and this is probably their valuation.
    Originally posted by mortgageFTB
    Mortgage Providers / Lenders wouldn't use a letting / estate agent to carry out a valuation survey they use their own approved surveyors.

    BF
    • davidmcn
    • By davidmcn 20th Apr 17, 9:01 AM
    • 4,970 Posts
    • 4,585 Thanks
    davidmcn
    • #6
    • 20th Apr 17, 9:01 AM
    • #6
    • 20th Apr 17, 9:01 AM
    Mortgage Providers / Lenders wouldn't use a letting / estate agent to carry out a valuation survey they use their own approved surveyors.
    Originally posted by BLOW FLY
    Yes, but presumably the agent would arrange the appointment, rather than the surveyor contacting the tenant directly?
    • saajan_12
    • By saajan_12 20th Apr 17, 9:05 AM
    • 303 Posts
    • 196 Thanks
    saajan_12
    • #7
    • 20th Apr 17, 9:05 AM
    • #7
    • 20th Apr 17, 9:05 AM
    mortgageFTB if that's true, wouldn't the lender be doing the viewing/valuation?
    Originally posted by bobobski
    The agent may be there to let the lender's surveyor/valuer in, as part of the management services on behalf of the landlord? As for it being a sales agent, they may be the only person available at the time, and you don't really need prior background with the property to oversee a valuation.

    IF you can be at the appointment, just ask them!
    • Nikkinakkinoo2017
    • By Nikkinakkinoo2017 20th Apr 17, 9:07 AM
    • 37 Posts
    • 28 Thanks
    Nikkinakkinoo2017
    • #8
    • 20th Apr 17, 9:07 AM
    • #8
    • 20th Apr 17, 9:07 AM
    This happened to us a couple of years ago and gave us a fright but actually they were just remortgaging. Hope it is the same in your situation ��
    • dimbo61
    • By dimbo61 20th Apr 17, 9:09 PM
    • 9,333 Posts
    • 5,060 Thanks
    dimbo61
    • #9
    • 20th Apr 17, 9:09 PM
    • #9
    • 20th Apr 17, 9:09 PM
    We had to have our BTL property revalued by the Lender Co-op every two years while we were with them.
    Cost us over £500 each time.
    • theartfullodger
    • By theartfullodger 20th Apr 17, 9:21 PM
    • 8,597 Posts
    • 11,346 Thanks
    theartfullodger
    My landlord's letting agent contacted me on Tuesday afternoon to ask for access to my flat on Wednesday. Usually I get a week's notice when they want to access, I think the lease says I must get 24 hours' notice, this was less than 24 hours' notice. .....
    Originally posted by bobobski
    £5 to an agreed housing charity if the lease says 24hrs notice for valuations. It almost certainly does for "inspections", probably for repairs, but, yes, I will donate £5 if there is a clause permitting valuation visits.

    Having said that, worth keeping landlord happy (within reason...)
    • bobobski
    • By bobobski 20th Apr 17, 10:27 PM
    • 593 Posts
    • 1,379 Thanks
    bobobski
    £5 to an agreed housing charity if the lease says 24hrs notice for valuations. It almost certainly does for "inspections", probably for repairs, but, yes, I will donate £5 if there is a clause permitting valuation visits.

    Having said that, worth keeping landlord happy (within reason...)
    Originally posted by theartfullodger
    My lease says:
    "[The Tenant must] allow the landlord, the agent, any superior landlord, his agent, professional advisers or authorised contractors to enter the premises with or without workmen and with all necessary equipment. Except in emergency, the landlord or the agent will give the tenant not less than 24 hours' written notice. The tenant is only required to allow access when: [...]
    • a professional adviser has been appointed by or authorised by the landlord or the agent to visit or inspect the premises[...]"

    No reference to valuations, sure, but that is the bullet point in its entirety - "visit" is not limited to inspections so could conceivably include valuations. The other bullet points relate to carrying out works, putting up for sale/to let signs, carrying out gas safety checks etc. I agree though, it is definitely worth keeping the landlord happy. Even if he is considering selling, the buyer may well be another investor, in which case a quick "bobobski is a good tenant" may make or break my future here

    Nikkinakkinoo2017 I do hope you're right! Glad your situation turned out well though.

    saajan_12 I did ask and the agent was evasive - just repeated "mortgage purposes".
    #18: Save 12k in 2017: £4,586.84 / £12,000 (38.22%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £15,458.02 / £60,000 (25.76%) | Emergency fund by 31/12/2020: £871.24 / £5,000 (17.42%)
    • theartfullodger
    • By theartfullodger 20th Apr 17, 11:20 PM
    • 8,597 Posts
    • 11,346 Thanks
    theartfullodger
    Fair enough bobski:. Shelter OK for the £5…??

    You could still refuse - look up "quiet enjoyment" and such visit clauses would probably be ruled "unfair" so unenforceable. But, unfair though it would be, Landlord could evict you for no reason at all using a s21 notice (Thatcher's s21, remember for the election!)

    Mortgage is plausible:. Favourite way of raising funds (holiday, new car, flat for mistress....) is remortgaging for landlords:. And most would get tax relief (rules complex).

    Cheers!
    Last edited by theartfullodger; 20-04-2017 at 11:24 PM.
    • bobobski
    • By bobobski 21st Apr 17, 7:27 AM
    • 593 Posts
    • 1,379 Thanks
    bobobski
    artful haha yes but technically the lease does not "say" 24 hours for valuations so I'll leave that to your conscience

    I do hope it's a mistress - if my landlord is going to scare my like this it had better be for a good reason.

    I'll update once I have further news!
    #18: Save 12k in 2017: £4,586.84 / £12,000 (38.22%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £15,458.02 / £60,000 (25.76%) | Emergency fund by 31/12/2020: £871.24 / £5,000 (17.42%)
    • bobobski
    • By bobobski 24th Apr 17, 6:04 PM
    • 593 Posts
    • 1,379 Thanks
    bobobski
    Right, so my landlord is selling. Balls. Section 21 served and everything.
    #18: Save 12k in 2017: £4,586.84 / £12,000 (38.22%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £15,458.02 / £60,000 (25.76%) | Emergency fund by 31/12/2020: £871.24 / £5,000 (17.42%)
    • HB58
    • By HB58 24th Apr 17, 6:13 PM
    • 1,718 Posts
    • 1,593 Thanks
    HB58
    Right, so my landlord is selling. Balls. Section 21 served and everything.
    Originally posted by bobobski
    Sorry to hear this
    • ognum
    • By ognum 24th Apr 17, 7:34 PM
    • 4,422 Posts
    • 6,573 Thanks
    ognum
    You know as I do that S21 doesn't mean you have to move yet. Stay until you have found somewhere else.

    Have you thought of buying your current flat, could get it cheaper to save LL trouble with viewings etc?
    • bobobski
    • By bobobski 24th Apr 17, 7:38 PM
    • 593 Posts
    • 1,379 Thanks
    bobobski
    No true, but won't it scupper my ability to rent elsewhere if I've stayed here beyond my welcome?

    I am considering buying (other thread here: http://forums.moneysavingexpert.com/showthread.php?t=5541362 - updated at post 31) but I wouldn't be able to afford this place by miles. Ognum, if I recall you're local to me - with the deposit that you can see in my signature, you'll support me in saying I can't even afford to buy a parking space locally!
    #18: Save 12k in 2017: £4,586.84 / £12,000 (38.22%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £15,458.02 / £60,000 (25.76%) | Emergency fund by 31/12/2020: £871.24 / £5,000 (17.42%)
    • ognum
    • By ognum 24th Apr 17, 7:41 PM
    • 4,422 Posts
    • 6,573 Thanks
    ognum
    No true, but won't it scupper my ability to rent elsewhere if I've stayed here beyond my welcome?

    I am considering buying (other thread here: http://forums.moneysavingexpert.com/showthread.php?t=5541362 - updated at post 31) but I wouldn't be able to afford this place by miles. Ognum, if I recall you're local to me - with the deposit that you can see in my signature, you'll support me in saying I can't even afford to buy a parking space locally!
    Originally posted by bobobski
    You are right but IMO prices are stagnating a bit and the past rush of 30 viewers and 20 offers seem to be falling away.

    I will keep looking for you, are you interested in current area or could you go out further maybe Cherry Hinton or Trumpington way?
    • ognum
    • By ognum 24th Apr 17, 7:42 PM
    • 4,422 Posts
    • 6,573 Thanks
    ognum
    It will take your LL longer than 8 weeks to get to exchange, they may actually be happy for you to stay a few weeks longer and pay rent
    • bobobski
    • By bobobski 24th Apr 17, 7:45 PM
    • 593 Posts
    • 1,379 Thanks
    bobobski
    Ognum I'm going to pm you - hope that's ok!
    #18: Save 12k in 2017: £4,586.84 / £12,000 (38.22%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £15,458.02 / £60,000 (25.76%) | Emergency fund by 31/12/2020: £871.24 / £5,000 (17.42%)
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