How to find out if landlord has a mortgage?

user1977

I can't see it's going to be useful information. It won't tell you how big the loan is versus the value of the property. It won't tell you what sort of deal they're on (could be fixed rate for years to come). If there isn't a mortgage over your place, the landlord might have a massive mortgage over another property. Or they could have other costs in their life which are going up. Or other sources of income which are reducing. Or they might be perfectly comfortable financially, but decide to push up your rent anyway because they've heard everyone else is doing it. Or they might be struggling, but decide you're a good tenant and they're not going to put your rent up.

CrGlo

Hi I’m not sure if you can find out if individual landlords have mortgages, however I looked up recently how many landlords have mortgages to see what effect mortgages rates may have on the rental market. 

“ Source: English Private Landlord Survey 2021

1.32 Landlords were asked which, if any, types of loans or borrowing they currently have to fund their rental property. Over half (57%) of landlords had a Buy-to- Let mortgage.” https://www.gov.uk/government/statistics/english-private-landlord-survey-2021-main-report/english-private-landlord-survey-2021-main-report--2#:~:text=Source%3A%20English%20Private%20Landlord%20Survey,Buy%2Dto%2D%20Let%20mortgage.

Also most of these have interest-only buy to let mortgages. The reason I’m replying is I feel that even if your landlord is not one of these people who will be affected, as the market rates go up a lot of landlords will increase anyway because that’s the new ‘going rate’. Except for in Scotland where there’s a rent cap in place to help with this. There’s a 3 month notice period required, and a maximum of 6% increase is allowed if landlords can prove a financial reason for needing to do this, until next spring. I’m afraid I don’t know the rules elsewhere.

I hope this is of some help to you, it is worth preparing anyway a for an increase if you can. 

propertyrental

If the LL's purchase has not been registered with the Land Registry yet (which can take up to a year especially for a new build where the plot of land is being subdivided - form TP1 not TR1) then the only way to find out is to ask.

And few LLs will take kindly to be asked about their personal financial affairs.

But as others have said, I fail to see the relevance.

Rental market rates are whatever the local rental market rates are......

Grumpy_chap

I understand the OP's sentiment in having a concern, especially in the light of some media reports referencing this factor.
However, knowing won't change anything plus the rent is not determined by this LL and this property in isolation but by the market.
If the OP thinks the LL may seek an upward rent review, then the best knowledge the OP can have is what the market rent is for similar properties in the area. 
If the current rent is below the market level, then the OP needs to plan for an increase - either to stay in the current property at market rate, or to move to another property at market rate if the LL seeks an unrealistically high increase.
Knowing the market rate in the area is also the best tool for negotiating the rent down from whatever the LL may ask if it is in the range but not a silly level.

Tiglet2

Mstty said:

I may be wrong but you don't need to own a property to be able.to download the title deeds (for a fee).

Any charges should.be shown

johnhenstock said:

You download a copy of the deeds from the land registry and it will say if it’s mortgaged or not. This requires the deeds to be up to date, it can take up to a year to have the records updated.

mrmagoo38 said:

Hi guys and gals,

Just a bit concerned about the hike in inflation and wondering how i can find out if our landlord has a mortgage. Its a new build, nobody has lived here before us. I dont want to ask the landlord or the lettings agent, if i dont have to. Is there a way to find out without doing so?
Ive checked the land registry and its not been registered, no info.
Kind regards

The opening post says the property hasn't been registered at the Land Registry

New builds are taking 1-2 years to be registered as there are big backlogs on this type of registration.

[Deleted User]

Doesn't make a difference tbh. Could have been bought with a loan etc 

They invested cash, or mortgage and will want a return.

If they don't increase good, if they do see if you can find a cheaper property elsewhere. 

silvercar

They could have taken a mortgage on another property rather than the one you are interested in. 

Doesn’t make much difference, the key is comparable rents.

gazfocus

mrmagoo38 said:

Ah ok, i just wondered. Tenancy will expire in 3 months and just bracing myself for a potential rent increase.

The mortgage isn’t the only cost a landlord has, so a landlord can increase your rent even if they don’t have a mortgage. Your best way of preparing for a rent increase is to see what similar properties are listed for and see how that compares to what you’re paying. 

YoungBlueEyes

I was going to say the same as gazfocus just said. Your LL might not have a mortgage and still decide to put up your rent because he's heard everyone else is doing it and fancies a bit more money. Or LL may have a mortgage but be comfortable in his finances and decide not to raise your rent, perhaps especially if you're good tenant/s. 

Knowing if he has a mortgage is of no value to you. Wait and see what happens in a few months  

Gavin83

mrmagoo38 said:

Ive noticed that merely asking sincere questions on here seems to strike up the ire of some people. I dont know why. Im not knowledgeable in all areas of life like the moralisers and know it all's. All i know is, rents might increase because of inflation and i heard someone on LBC say that landlords will be forced to increase their rents. Landlords with a mortgage might be more likely to raise rent if their own costs increase due to inflation. Mortgages typically have fixed interest rates, but if the landlord has variable interest rates or other costs related to property ownership that increase with inflation, they might consider adjusting rent to cover these higher costs.
I sense passive aggressiveness from some people every time i post here and i suffer with high levels of anxiety. Please just be respectful and polite.

I’m not really sure where this post has come from since I’ve seen no negative comments, nor passive aggressiveness and everyone has been respectful and polite. If you’ve received negative posts previously that is unfortunate but really can’t see any evidence of that here.

Anyway, I asked you why you felt that having a mortgage made a difference to understand why you felt this was an important piece of information. Main reason I asked is because I can’t see what difference it makes but wondered if I’d missed anything.

There is a small additional risk with a mortgaged landlord that the house could be repossessed. I say small as most landlords wouldn’t be running that close to the breadline and will likely pass on the costs anyway. There is likely a slight increase in risk that the landlord will sell up too.

Ultimately though I feel it would make very little difference to the rent you’d pay. It’s not like we have a bunch of non mortgaged rentals out there charging their tenants lower rent. When mortgaged landlords increase their rents that would then become the standard rental price and non mortgaged landlords would soon follow. Only difference is they’d pocket more profit.

It is of course potentially possible that the law will change in some way but that’ll likely just lead to less rental properties being available and increase the problems we already have. Ultimately though that would be nothing but guesswork.

As others have pointed out there are ways you can silently gather some information but it won’t tell the full story. The only way to know for sure is to ask the landlord but expect a refusal.

I’m also surprised you live in an area where you can afford to be this picky. Most rental properties seem to have tens or even hundreds of people applying for them. If you can afford to be this picky that’s definitely a good thing for you though.