Remortgage with view to sell

bigadaj

mrginge wrote: »

No. Rolling spt would mean two rental periods from LL not one month.
Tenant may refuse any viewings as a right to quiet enjoyment. OP is unlikely to have funds required to challenge this right in court.
Any reference must be based on fact, so any threats of negative reference without foundation would be unwise from OP.
Tenant can simply wait for court eviction (3 months?) and quite rightly hold up or prevent any potential sale.

Residential purchasers with a mortgage must have vacant possession, so OP must evict prior to exchange (if a purchaser who is prepared to wait can be found)

Advice on here to landlords is to always to remove tenants before trying to sell. This case is no different.

OP - did you take a deposit and has it been protected correctly?

Fair point on the notice period but given the numbers something need to be done to resolve ASAP.

There is nothing in the OPs posts to assume that the tenant will be awkward if given some notice and suitably informed, and if the current situation is explained this provides justification of why the situation is unsustainable.

No threat is needed from landlord about reference, this is simply a statement of fact that is purely dependent in the tenants approach to the ending of the tenancy agreement.

The OP would have little choice but to market as soon as possible after informing the tenant, so informing the tenant and then marketing is fastest course of action, though the OP will have to suck up a couple, of months without rent at least in all probability. A realistic valuation is also key as this could be below mortgage value, OP do you have funds to cover any shortfall, as every month it doesn't sell will be costing you between £500 and £1000 per month?

System

Thanks for your assistance with this. I don't think the tenant will be awkward & everything has been managed in the proper manner thus far.

We have a small amount of savings but not really enough to sustain the mortgage untenanted for more than a couple of months. I think we're going to try to find somewhere cheaper for ourselves to rent, freeing up some extra monthly cash then put the house on the market. It's not ideal but feels abit safer.

mrginge

Shroom wrote: »

I think we're going to try to find somewhere cheaper for ourselves to rent, freeing up some extra monthly cash then put the house on the market. It's not ideal but feels abit safer.

This sounds like the most sensible option. Your priority must be to get rid of the losses, so any economies you can make elsewhere to mitigate a possible longer selling period should be investigated.