When to give AST notice?

lukecooper

Hi all,

I just wondered if anyone could give me some advice on when I should give notice on my current private rental, which is an AST with a 2 month notice period.

I am in the process of purchasing a shared ownership property (just for the record, this post is not intended to become a discussion about the pros/cons of SO- I am happy that this is the right option for me at this time). My application has been with the Leeds Building Society for getting on for 8 weeks now (very frustrating, but that's another story!). Initial request for extra documents happened some time ago, after this the valuation was instructed and came back about 4 weeks ago, but there were further documents they wanted as a result of the valuation. These have all been submitted this week but they have a 7 working day backlog before looking at new documentation, so I'm not expecting to hear anything regarding a formal offer until sometime next week (that is if they don't ask for more things!!)

The housing association that manage the property give a 3 month time frame for completion (from the time of reservation), which is mid-May. They also stipulate that completion must occur within 10 working days of solicitor receiving all necessary documentation.

Obviously I can't give notice on my current property until I am sure enough that this is all actually going to happen. I've accepted that there is bound to be potentially quite a significant overlap, but of course I want to keep this as minimal as possible. At what point is it considered 'safe' enough to give notice? At the point when the formal mortgage offer (hopefully!) comes through? Or at some other time?

Thank you in advance for your advice

angrypirate

Once you have exchanged. We nearly gave it sooner but the purchase ended up falling thru. Glad I listened to my Mum who told me not to do it until after exchange.

dimbo61

Are you still in a fixed term ie 6/12 months ? Or has the contract now gone onto a periodic contract ?
If on periodic you only need to give one calander month notice from the date you started the tenancy .
It is better to be still renting for an extra week or two rather than homeless.

lukecooper

Thanks for the quick replies! I've been in the same place for some years, I renew for 12 months every year on an AST. I sign a supplemental agreement each year, which explains that either party must give 2 months notice in writing if they wish to terminate the agreement.

thesaint

lukecooper wrote: »

Thanks for the quick replies! I've been in the same place for some years, I renew for 12 months every year on an AST. I sign a supplemental agreement each year, which explains that either party must give 2 months notice in writing if they wish to terminate the agreement.

I have never heard of a "supplemental agreement".
When did the last fixed term contract start?

What exactly does the clause you are relying on state?

RAS

luke are you in England and Wales or in Scotland? The law is dfferent.

lukecooper

Am in England.

The document is called 'Assured Shorthold Supplemental Agreement'. The document runs from 1st March 2013.

It's a short document which begins by stating that "this agreement is supplemental to an Assured Shorthold Tenancy Agreement made between the same parties hereto dated (dd/mm/yy) (the principle agreement)".

The clause I am relying on is this:

"If either party wishes to determine this Agreement at any time after the commencement of the Supplemental Agreement and shall give to the other party not less than two months notice in writing and shall up to the time of such determination pay the rents reserved by and perform and observe the agreements and conditions contained in this Agreement then upon the expiry of such notice the Tenant shall give vacant possession of the whole of the Premises to the Landlord and the term shall immediately cease and determine but without prejudice to the respective rights of either party in respect of any antecedent claim or breach of covenant"

I take this to mean that I need to give two months notice in writing if I wish to terminate the agreement- I hope I am not wrong!

thesaint

It sounds like something somebody made up that actually has no real meaning whatsoever.

I would ask the landlord if it means what you hope it means.
I will ask again. When did the last fixed term start?

lukecooper

It certainly is the longest sentence in the world!!

I am happy enough that it does mean that I think it means- this is a fully managed property through a well established and well thought of letting agent in this area. This is the third property I have rented with them over the past 10 years, and didn't have any problems when terminating prior tenancies. Having said that, I will check with them tomorrow.

I'm sure I already said... last term began 1st March.

Thanks for the help and advice

thesaint

lukecooper wrote: »

I'm sure I already said... last term began 1st March.

Thanks for the help and advice

I read it that this "supplemental agreement" began on the 1st March, not the last fixed term contract.

lukecooper

Oh I do apologise. By fixed term contract do you mean the original AST? If so this was for 12 months beginning in Feb 2009.