Mis sold a student let

Tornedo

I'm in the same situation.  Interesting read and need to look at probably cutting my losses.  My student flat was £83k, the guaranteed rent of 9% stopped after 2 years - forced to change lease as energy crisis meant costs rose.  My income has halved, no tenant next year yet, so will cost me money and if I sold flat would be lucky to get £40K 5 years later - totally mislead to the contract we bought from.  It looks like a hard and bitter pill to swallow.

MeteredOut

Tornedo said:

I'm in the same situation.  Interesting read and need to look at probably cutting my losses.  My student flat was £83k, the guaranteed rent of 9% stopped after 2 years - forced to change lease as energy crisis meant costs rose.  My income has halved, no tenant next year yet, so will cost me money and if I sold flat would be lucky to get £40K 5 years later - totally mislead to the contract we bought from.  It looks like a hard and bitter pill to swallow.

I salutary tale for others, hopefully. Only make decisions baed on what's in the contract, not what any sales agent tells you.