Renting out property before selling

Grumpy_chap

Jimmithecat said:

Asking for a friend

Due to relocation for work their flat in Bristol has been rented out for the last year.
They are on a fixed rate mortgage until December 2023. Would like to hold off completion of any sale  until then to save paying early redemption payment to Halifax.
As they are unlikely to return to Bristol and the increase in interest rate they wish to sell.
Put on the market and have had an offer they have accepted - buyer allegedly backed by parents so in no chain.

Current tenants move out this month.
Buyer would like to rent the property they are buying until sale goes through.

The sellers understand there may be issues with this - ie tenant moving in and not going ahead with the sale 

Any thoughts or advice please?

My goodness, some people do look for a complicated solution where an easy one is obvious:

1. Hope the current tenants do move out as planned later this month.
2. Complete the sale to the new owners.
3. Pay whatever the early redemption fee is.

eddddy

propertyrental said:

Plus of course OP becomes a LL with all the tax and legal obligations that go with that....

The OP says their friend has been a LL for a year already - so just continuing as they are, I guess.

Jimmithecat said:

Due to relocation for work their flat in Bristol has been rented out for the last year.