Ok i know that this has been coming, landlord went bust last year.

Just come back off holiday to a letter from the receiver or rent that they are selling the property. They plan to sell it as an investment property whatever that means, but still.

tenancy means i only really have two months notice, god i hate BtL.

Ho hum,

Time to find a shed load of cash to cover the moving costs, references, deposits, etc. Obviously i get F all help. Get made redundant, screw your finances, starting to get things back in order and they get screwed again!

you may find the new landlord will keep you on…

I was just about to post that. Do you know when the sale is ? I would assume it’s an auction so might happen v fast. You would still have to find the deposit though while you wait for the previous one. I would withold the last months rent btw, if he is bankrupt and it’s not lodged in a deposit scheme you have FA chance of getting it back. (I’m both a landlady and tenant btw so not taking sides).

you may find the new landlord will keep you on…

i guess anything is possible, but…. not convinced.

As far as deposit is concerned that side of should be ok, I never dealt with the landlord, and all running has been in the hands of his administrator for a year or so.

Will have a chat with the administrator just to find out what their plans and timescales are, they say in the letter that they want to arrange viewings in due course, and they still have to a surveyor come round and value the property.

Oh been here before which is why i am not convinced that it will end in in my favour.

I’m sure the new landlord will be delighted to keep you on.

Unless you’re a problem tenant?

Is the property sound , clean , tidy and all up together? Do you pay the going rate ? Or is it cheap as there is work that needs doing?

If you pay a fair rental , and there are no immediate expenses due (boiler / kitchen / bathroom refit) then good chance new BTL landlord will keep you on as existing tennant .

Toys19 has a few properties and could confirm , but I am pretty certain its easier to get BTL finance when the property is already let at a sensible rate . Alot depends on purchace price and gearing/deposit.

You might get a rental increase, or be flexible over works carried out by new LL .

All is not lost , but keep an eye out for somewhere else in case the flat goes to market and a FTB buys it and gives you a months notice.

If you’re a reliable tennant the landlord will no doubt want to keep you on. It will be cheaper for him as you will be paying rent from day one of his ownership and he doesn’t have to pay for advertising for new tenants.

property is worth more with you in it than empty, so I would not be too worried.

Sounds like the mortgage provider was made aware of it being rented out – have been a tenant in a place where the landlord was claiming to live in it and behind on the mortgage, and you have no rights at all in that situation.

They can only sell it as an “investment property” with you living there, but worth making plans to move as a contingency. Ideal situation, you get new owners who are happy to have an existing tenant who’s happy to pay rent. Worst case, they get no interest and want you out so they can sell it as a regular vacant property.

The landlord had maybe 25-30 properties in total and for whatever reason didn’t make the payments.

Looking at the price he paid and the rent i pay i do believe he overpaid and that might be part of the problem, obviously i don’t know what his deposit etc was like.

Just the knowledge that i only have 2 months, worst case, to get finance together for a deposit etc. Which is a joke, but it is what it is.

Will have to wait and see what happens.

Have you been given notice officially? If not then you have 2 months from then. As said above a property with tennent is a better proposition, saves all the fees/hassle and lost income.

Check where your deposit is, if it’s in DPS worth advising them of the situation.

Find out of they are willing to advertise with tennent for the sale, if not might be worth asking for some transition time – 3 months form sale etc.

It happens. Did you think you were going to live there forever?

i know that this has been coming, landlord went bust last year

And

Just the knowledge that i only have 2 months, worst case

You’ve had a year, but ignored it. Time for reality to bite.

You’ve had a year, but ignored it. Time for reality to bite.

Get made redundant, screw your finances, starting to get things back in order and they get screwed again!

hasn’t been ignored, getting a job has been higher up the list of priorities. So **** ***

As a long term semi-nomadic tenant I’d say two months notice by either party is pretty standard….If your deposit is in DPS you should have no problem getting it back (apart from the funding gap between deposit on new property and refund of old deposit obv).

The wonders of the ‘market’– in this climate food clothes and shelter are three basic elements in order to survive, in any civilised place they should be fundamental rights, oh i remember now the market will take care– good luck with your problem, but even if you resolve it this time there is no guarantee it won’t occur again, and this govt wanted to remove secure tenancies….

hasn’t been ignored, getting a job has been higher up the list of priorities. So **** ***

It’s all right, he’s a friend of Toby Lerone, it’s a bit like being a friend of Dorathy, but involves taking Chris Moyles seriously.