remortgaging a buy-to-let property - tenants' consent

LiquidEyes

Hi,

If I remortgage a buy-to-let property, do I have to get the existing tenants to give Occupiers Consent? Or does that not apply in the case of buy-to-let mortgages? I have received conflicting advice on this.

Thanks in advance.

david29dpo

No. but you may need there consent for entry for valuation.

LiquidEyes

Thanks for the reply. That is interesting...

I am actually one of the tenants in question and our landlord is in the process of remortgaging. He has forwarded an Occupiers Consent form for us to sign.

The mortgage company in question seem to think ALL occupiers have to sign this. I can see why the lender would want us to sign this (because obviously they need to kick us out should they need to seize the house, in the event our landlord defaults on his mortgage payments) but I don't want to sign away my rights as a tenant! (in particular, the minimum notice period)

Guy_Montag

If the bank repos you're out anyway - basically you have no rights, but it should take them two months to repo the place anyway. If you're lucky they'll tell you they re repo'ingthe place so you can find somewhere new.

If you want to stay on in the place for at least six months, I would sign in exchange for a new AST. This won't give you any longer should the place be repo'd, but it will mean you LL has to protect your deposit in one of the schemes - ie. if he goes bust you still get your deposit back.