Landlord selling house

Grumpy_chap

OP pays £850 per month and £200k property so that should work if another landlord purchased the property with sitting tenants.

The deadline of a week to offer or lose the property is unreasonably short.  However, the property will not immediately sell even if it is marketed.  In the mean time, as tenants, you are entitled to "peaceful enjoyment" or whatever the phrase is.  This means the Agent cannot simply make entry or assume permission to enter, except for emergency.  As Tenant, though, you do have to give reasonable access for valid purposes, e.g. gas safety check.

What part of the country are you in?

areia

Thank you. It is more me panicking as we only just moved 2 years from another due to landlord selling we looked specifically for a long let. With a garden. Weve got great references but thats not going to effect our mortgage application. But of course we only get 6 month assured shorthold. Im just tired of constant moving around with a child. Yes we would like to stay in property, hense why we are looking into buying.   Im in far south east uk. In a developing town. My street is a hot spot. 8 houses sold within 3 weeks over last 2.5 years. well aside from one we've noticed is sold but still empty after a year. Ive looked on zoopla and estimated is 198 to 205 for the property. The agent is dealing with this mainly. They are clearly looking for a straight forward sell. Agent want to come round ASAP to take some pics and measurements.  It just seems so fast. Hense the panic. 

NameUnavailable

Just tell the agent it's not convenient for you at the moment and you'll be in touch with them. Buy yourself some time.

Grumpy_chap

What part of the south east is that you can get a house for £200k?

JPB123

Vidit_Agarwal said:

Why don't you take suggestion from professional accountants? May be they can offer you the right solution related to your selling house. Contacting Accountants might help you to resolve the issue.

Since when have accountants sold houses? They haven't arranged mortgages for 20+ years either. The OP said they were employed so they don't need an accountant for that either. So, please explain more about how an accountant can help.

I'm a Financial Advisor, I could help, but I don't put posts on touting for business.

Grumpy_chap

And the OP is not looking to sell their house.

areia

Well sadly can't raise 80 to 90 thousand for a deposit. Despite being fully able to afford it 😔 bank of offered 110 on a 200k house. Gutted. Mortgage would of been 750 pm.  Now having to look at rentals for 900 to 1000k a month

AskAsk

areia said:

Well sadly can't raise 80 to 90 thousand for a deposit. Despite being fully able to afford it 😔 bank of offered 110 on a 200k house. Gutted. Mortgage would of been 750 pm.  Now having to look at rentals for 900 to 1000k a month

the stumbling block for most people is the deposit they need as the mortgage offered is often a lot less than 90% of the asking price.  the banks are very cautious about lending and what you can afford to pay in rent doesn't really matter to them.

AdrianC

areia said:

Well sadly can't raise 80 to 90 thousand for a deposit. Despite being fully able to afford it 😔 bank of offered 110 on a 200k house. Gutted. Mortgage would of been 750 pm.  Now having to look at rentals for 900 to 1000k a month

£110k on a £200k property is only 55% LtV.
That suggests that the issue is actually that they think £110k is the maximum affordable to people on your income...

Grumpy_chap

Best option for the OP might be to seek out a landlord that will buy with sitting tenants.