long term let

Okydoky25

I would say as potential Landlords they don't seem to have a clue so I would be very wary.

DRP

flashtash wrote: »

I can give 1 months notice to quit at any time

...and they would be bound by the tenancy? :rotfl:

flashtash

DRP wrote: »

...and they would be bound by the tenancy? :rotfl:

yes that's right,they only offered 20 years because we wanted a long lease,they did say we could have 5,10 or whatever

00ec25

be very careful

although your prospective LL appear to be utterly ignorant, a tenancy term of longer than 7 years means that the tenant not the LL could become responsible for all repairs to the building as the repairing obligations applicable under a "normal" AST are not enforceable over a lease of that length
http://www.landlordlawblog.co.uk/2010/05/12/tenancy-agreements-31-days-of-tips-day-12-the-term/

as others have mentioned, the process for setting it up is also different since it is a deed and (> 7 years) needs to be registered

if you have a lease of that sort of length then if they sell up your new LL (and it could only be sold top a LL since you would still have a right of occupation) may know much more about things that your old LL and you could end up in hot water - any break clause notwithstanding...

you would be much better off explaining the law to your prospective LL and encourage them to get educated eg: by coming on here !!!

flashtash

00ec25 wrote: »

be very careful

although your prospective LL appear to be utterly ignorant, a tenancy term of longer than 7 years means that the tenant not the LL could become responsible for all repairs to the building as the repairing obligations applicable under a "normal" AST are not enforceable over a lease of that length
http://www.landlordlawblog.co.uk/2010/05/12/tenancy-agreements-31-days-of-tips-day-12-the-term/

as others have mentioned, the process for setting it up is also different since it is a deed and (> 7 years) needs to be registered

if you have a lease of that sort of length then if they sell up your new LL (and it could only be sold top a LL since you would still have a right of occupation) may know much more about things that your old LL and you could end up in hot water - any break clause notwithstanding...

you would be much better off explaining the law to your prospective LL and encourage them to get educated eg: by coming on here !!![/QUOTE thanks for the info

Okydoky25

Have they arranged a BTL mortgage?

Annisele

flashtash wrote: »

no,its a young couple who own the house and looking to get the mortgage paid for their retirement, the 20 years is,i think to give the tenant security

So there's a mortgage secured on the house you'd be living in? Their lender will not like that one bit.

Pixie5740

I would speak to Shelter if I were you to find out the ins and outs of such a long term let. You don't want to get stuck paying their mortgage and having to shell out for the cost of maintaining the property too.

I wonder if these wannabe LL are actually clueless or if they're trying to stitch you up like a kipper.

theartfullodger

flashtash wrote: »

hi, ive been offered a long term let of 20 years if I want it.....etc etc etc..

Really?? Ask nicely to see a copy of the proposed tenancy agreement: £5 (to an agreed housing charity) says the agreement will show the landlord will easily be able to end it well before 20 years, without the tenant breaking any tenancy conditions...

Yes, I could be wrong: If so, £5 to a good cause!

Cheers!

donfanatico

JUst do a 6 or 12 month initial tenancy then go on to SPT, if you like the place and are a good tenant surely they will let you stay for however long you want to stay