Vacant possession? My landlord is selling to a new landlord

G_M

I would advise against having this conversation at all. They will give all sorts of plausible-sounding explanations. They will give guarantees (verbal).

You will be vulnerable.

The lack of a BTL with the new owner is the least of the issues (though read this post: Repossession )

If you end the current tenancy in writing, or give notice, as requested:

* you can be charged double rent for failing to leave ( Distress For Rent Act 1747 S18 )

* the new owner may change his mind and not give you a new tenancy
* he may offer a new tenancy at a higher rent

I advise against getting into any discussion unless you want to leave, and want to be paid to leave.

nidO

StillATenant wrote: »

Assume I *had* given them confirmation of vacant possession, so that they can complete. The agent has said that a new tenancy agreement would be drawn up between me and the new owners. Clearly it seems wrong that they would be letting out the property without a BTL mortgage, but what would problems could that lead to for me?

The most obvious potential problem that springs to mind is the mortgage company find out what the new owner has done and repossess the house, which will leave you out on the street (the whole reason for residential mortgages requiring vacant possession is so that no-one has any pre-existing claim to live in the property before the new owner buys the place, and if you confirm this you'll be bound to it, whether or not you actually were there the whole time).

BitterAndTwisted

Your position is: "I'm not going to give notice because I'm not planning to leave before the end of the fixed-term. Sorry about the buyer but they will have to wait to purchase once we've gone if it's a residential mortgage. If it's a BTL one we obviously won't need a new tenancy agreement".

ging84

what ever happens make sure you look out for what is happening to your deposit

bitsandpieces

G_M wrote: »

I would advise against having this conversation at all. They will give all sorts of plausible-sounding explanations. They will give guarantees (verbal).

You will be vulnerable.

The lack of a BTL with the new owner is the least of the issues (though read this post: Repossession )

If you end the current tenancy in writing, or give notice, as requested:

* you can be charged double rent for failing to leave ( Distress For Rent Act 1747 S18 )

* the new owner may change his mind and not give you a new tenancy
* he may offer a new tenancy at a higher rent

I advise against getting into any discussion unless you want to leave, and want to be paid to leave.

Even if the letting agents are lovely, trustworthy people, they are only agents for your current landlord and will only be agents for your new landlord (assuming the new landlord decides to keep them on). If you agree to vacate the property, the new landlord would be quite entitled to hold you to this and kick you out, to try to hike the rent, etc. - even if the letting agents strongly disagreed.

I have a pretty good relationship with my landlord and letting agent - they both seem largely decent and trustworthy - but there's no way I'd do what they're asking you to. It's making yourself very vulnerable, for no benefit to you, and putting a lot of trust in the new landlord.

It's a shame if they've ended up facing financial problems, but this isn't your responsibility. If you're willing to move at short notice to give vacant position, it would be reasonable to ask for at least some payment for this (how much you aim for may depend on how kindly you feel towards your current landlord). If you don't want to give vacant possession, then don't - though you may well end up being evicted eventually.

Lummoxley

From the sound of it you have agents, then only deal with them, do not enter any private agreement with the landlord.

theartfullodger

Lummoxley wrote: »

From the sound of it you have agents, then only deal with them, do not enter any private agreement with the landlord.

Err... nope:

A tenant's contract is with the landlord, not the agent: The agent is just that, the landlord's agent...

agrinnall

Lummoxley wrote: »

From the sound of it you have agents, then only deal with them, do not enter any private agreement with the landlord.

Well that's impressive, first ever post in response to someone else's thread, and you've got it spectacularly wrong. Hope your next attempt does a bit better. :beer:

knightstyle

Not an expert on this but from DD experience take all conversations with a pinch of salt and do nothing until you have proposals/options in writing from the agent or landlord.

HB58

StillATenant wrote: »

The agent has said that a new tenancy agreement would be drawn up between me and the new owners.

You don't need a new tenancy agreement. Any new landlord would be bound by the terms of the old one.