 You don't need to be an 'investor' to invest in Singletrack: 6 days left: 95% of target - Find out more
Got told today that the land lord has gone bust and had the mortgage suppliers surveyor pop round. he has told us that we won't be asked to move out, how likely/unlikely is this?
Not sure how anyone here can answer that - unless they happen to buy the house.
Id expect that you will continue to have the same level of protection you've always had on an AST, i.e. not a lot - couple of months.
In terms of the mortgagor's strategy, they will probably foreclose and look to sell the property asap, either by agent or auction. The property will more than likely be sold with you as a sitting tenant, and depending on the numbers maybe attractive to a buy-to-let investor, but I wouldnt bank on it, as an owner occupy can buy and serve notice under your existing tenancy.
landlord has circa 30-40 properties if that makes any difference
I think Stonor has it covered. your rights are unchanged but you will get a new owner and they may wish to live there rather than rent it out. sit tight for now.
i'll add a "but start looking for other options just in case" to the end of that.
many years ago, me & then girlfriend were renting a small house near the uni in Bradford; landlord came round one day & said he was selling.
We started looking at other rental properties but decided also to look at buying somewhere.
To cut a long story short, we ended up buying a house in a rough part of town that we didn't know.
It took us 20 fing years to get rid of that fing house 👿
Yeah but you had some excellent curries I bet?
not the point. you can get excellent curries [i]anywhere[/i] in Bradford 😉