Asking landlady to lower rent...?

beecher

PJD wrote: »

I'm a bit annoyed actually, - base rate has come down about 4% the last few months, so her mortgage is likely reduced also. I don't want to cut my nose off to spite my face, but I will start looking out for somewhere else now.

Do you know that for sure? She may be on a fixed rate or SVR which hasn't come down much.The value of the property will have come down substantially too so surely your LL priority will be to overpay if she does have a lower mortgage at the moment?

As others have said, how would you feel if she upped the rent when base rates head upwards again?

poppysarah

Yup ignore base rates for reducing rent - it's got to be a fair market rent and if you can get something the same locally for less then that's when you start asking.

georgeLL

Sounds like if you tell her you're moving out she might reduce the rate. If her rent is truly high and she knows this then she'll also know it'll be tough for her to get someone else in so she'll be keen to keep you.

ellies_angel

This has come up before and I said previously it would be wrong to presume that her morgage payments have come down.
I had to renegotiate my morgage almost a year ago and it went up over £100. I am fixed for 3 years so although the interest rates have come down my morgage hasn't. I absorbed the increase, I didn't increase the rent.
Maybe she isn't on a fixed rate, maybe she hasn't a morgage. The point is you took the lease out knowing the cost of the rent. But if your not happy its your choice to seek something cheaper. Just remember if she is a good landlord it maybe not wise to change just for the sake of a few quid