Due to exchange but possibly redundancy

LKRDN_Morgan

Just an update. Still no news on the redundancy front but we've decided to pull out of the sale anyway. My work initially said I'd have an answer by the end of the week but that's not going to happen anymore. It could be another 2 weeks still. Our landlord is hassling us to renew our tenancy (she didn't know we were in the process of buying) The estate agents are hassling us for an answer and I think I just snapped. I feel so guilty at being the cause of the chain collapsing but at the same time I feel relieved I don't have to worry about it anymore and can focus completely on my job. I've realised we could be in a worse situation but right now we have a roof over our heads (which we can still afford regardless of what happens) and our deposit will be returned from the solicitor. Minus their fees of course but it could have been a lot worse.
At the end of this I hope to still have my job and can resume house hunting

AdrianC

Definitely the safe choice, and probably the wise one.

Good luck with it all.

BTW - you do know you don't need to renew your tenancy, right? When it expires, you just go onto a statutory periodic, which continues until either you give 1mo notice, or your landlord gives 2mo.

wantonnoodle

AdrianC wrote: »

BTW - you do know you don't need to renew your tenancy, right? When it expires, you just go onto a statutory periodic, which continues until either you give 1mo notice, or your landlord gives 2mo.

I would be careful about this. With our previous rental, the agent (and landlord) had a policy (which they followed through on with other tenants) of automatically issuing a S21 the day after your fixed term expired, if you didn't take out another 12 months. Granted, their 12 month contracts after the initial one included a 2 month break clause at any point in the contract, but if the OP's landlord is like this, I think it is wise for them to renew and get the security, especially when jobs are at risk. It's an additional stress that can then be avoided.

saajan_12

wantonnoodle wrote: »

I would be careful about this. With our previous rental, the agent (and landlord) had a policy (which they followed through on with other tenants) of automatically issuing a S21 the day after your fixed term expired, if you didn't take out another 12 months. Granted, their 12 month contracts after the initial one included a 2 month break clause at any point in the contract, but if the OP's landlord is like this, I think it is wise for them to renew and get the security, especially when jobs are at risk. It's an additional stress that can then be avoided.

Yes, might be an issue with some LL's, but that security often comes at a cost (renewal fee) when an agent is involved. Also, you lose the flexibility of moving with a month's notice.. may be key for people who may have a change in circumstance e.g. income / job location / space required for family / in the process of buying a house like OP!

Ideally, speak to the LL directly to get on the same page. Most wouldn't want to evict a good tenant and incur a void for fear of a lack of commitment by a tenant, so such 'policies' are likely to be agent-driven.

martindow

wantonnoodle wrote: »

Granted, their 12 month contracts after the initial one included a 2 month break clause at any point in the contract

Is that correct? I thought that a contract gave the tenant a minimum of 6 months.

LKRDN_Morgan

Spoke to the LL direct as advised and she was happy with a periodic tenancy. Weird because a year or so ago she was dead against it. Good news for us though. 1 less thing to worry about now!

wantonnoodle

martindow wrote: »

Is that correct? I thought that a contract gave the tenant a minimum of 6 months.

From what I recall, the 6 months minimum protection is only during the initial tenancy period. As this was a renewal rather than a new tenancy, the contract they used was slightly different (they referred to it as a flexi-lease), and gave us the option of breaking it at any point with 2 months notice.

It worked quite well for us. We renewed at the end of October and gave notice in February (the day before exchange, 2 days before completion), returning the keys just after Easter. Gave us plenty of time to get the new place up to scratch and the rental to a condition where we can get the deposit back easily.

LKRDN_Morgan

Wasn't made redundant after all. Huge relief!!! Got a viewing on a bigger house in the next street for £30k less than the house we almost exchanged on.
If things happen for a reason I'm hoping this is it!

Crashy_Time

LKRDN_Morgan wrote: »

Wasn't made redundant after all. Huge relief!!! Got a viewing on a bigger house in the next street for £30k less than the house we almost exchanged on.
If things happen for a reason I'm hoping this is it!

Always good when that happens.