Goodbye Mortgage - the beginning of the end!

lilmissmup

Oh sheeeshhhhh!!!

I live at the top of a massive hill so if we get flood the villages below us are scuppered!

Does your tenant have their own contents insurance or do you have to sort that out as well???

Bloody hurricane!

Beckyy

I haven't broached the subject of whether they have their own contents insurance, but it was their responsibility so I really hope so. Thankfully there was a few hours warning so they were able to move most things upstairs and damage to their belongings is minimal but what a mess the house is in. I honestly don't know where to start with it, everything is swimming so everything is pinned on the insurance company to get it all sorted. I think we got the ball rolling quite quickly as there is more flood warnings for our area and the rain is still coming down so bound to be more houses affected!


The whole day has been a bit surreal.

lilmissmup

Awwww hope they get it sorted quickly for you and your tenant.

gallygirl

Eek :eek:. I'm at the top a hill so if we flood it'll be ark time , now sitting thinking about btls :eek:.

Hope it gets sorted quickly and as pain free as possible

Goldiegirl

Hope you get the BTL sorted as soon as possible, so much extra work for you, and your poor tenant being in a flood situation

Beckyy

Thanks for stopping by and the kind messages!


At the very least we will have a few hundred pounds insurance excess, and likely have to refund most of this months rent (which we would hopefully get back through rent loss insurance.)


I just feel terrible as whilst there's nothing I can do, I feel very responsible still. It's certainly put me off of BTLs outside of a local area and cements that it's definitely not a walk in the park.


Reading up on the processes and timescales for repairs, sad times

Beckyy

The last few days have been a whirlwind.


The drying equipment has started to go in, it was within 24hours so quite pleased the ball is rolling.


My main concern is alternative accommodation for tenant. I haven't been given a budget and the adjuster isn't round until Friday. I think I've found a room at a local B&B but that is quite short-term, so whilst I'm looking around and enquiring I don't feel like I can commit to taking out a 6 month SAT for another property without having written proof the insurance company are willing to pay for it. Even if I could, there is nothing for the same price as the rent as there is no furnished 1 bed houses available.


Whilst I've got the ball rolling with the equipment etc. I feel like I'm having to arrange everything and whilst it is my property I would expect the insurance company to be a little more pro-active and helpful.


Tenant has also mentioned they're considering terminating their tenancy as they were thinking about moving soon anyway, which is entirely understandable however I have no idea how hard it will be to find new tenants after the property was flooded so recently. I guess this will depend on the alternative accommodation I find for him - he will still be paying the same rent so if it's a property he's happier with it may be in his best interests to stay until the work is completed then look for somewhere else.

Crumpets

What a nightmare for you! I hope things get sorted quickly for you and that it doesn't end up costing too much.

Beckyy

Have had nowhere near the time I need to go through stuff, my bank account ended up in the minus because I hadn't been in the check it and switch money over so goodbye £5 reward next month .


I think we're making progress with BTL. Tenant has seen another property with a view to mutually ending their tenancy which would be easiest for everyone as I'm struggling to find long term alternative accommodation both they and insurance company are happy with. I just hope they are accepted for it and everything goes smoothly.


The builder has been round to start pricing up the work for the insurance company and hopefully the ripping out can be started next week. It's quite sad to see things you've worked so hard doing yourself to save money just being torn out. The work should take approx. 3 months to finish.


Our finances are a bit muddled around as I've had to pay for a lot of things until the insurance company reimburse me so certainly no OPs for now. About £3 of £co cashback on the way... every little helps :rotfl:

Goldiegirl

I think some of the TV programmes make BTL properties look like a walk in the park, but the reality is that a lot of work needs to be put in, and that's when things are going smoothly.

At least some progress is being made. Hopefully by the end of the year things will be back on an even keel