I’ve lived in my flat for 10 years but my landlord has decided to sell the property and I’m desperate to stay here! The tenancy has been managed by an estate agent, so I’ve got plenty of proof that I’m a reliable tenant. I’d be able to provide a home owner guarantor if needed and 6 months rent up front if necessary.
I work, I’m not on benefits.
Please, please, if anyone can help me stay in the place that’s been my home for over 10 years I’d be so very grateful.
You need to provide more details, people dont generally buy a house to help someone they’ve never met unless there is something in it for them. ie where is the property, what type of property, what does landlord want for it, what rent do you pay etc
Yes of course, sorry.
It’s a 2 bedroom Maisonette in Sutton Coldfield Birmingham B76
Asking price is £170,000
I’m currently paying £750 a month
Im not sure what youre asking. Sadly, your landlord has decided to sell. Are you hoping for tips on how to change his mind? This is a difficult situation for you, but it would not be right for us to help you bury your head in the sand when there is no time to lose in looking for your next home. Have a good cry and then get back out there.
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They are presumably hoping a landlord wants to buy where they rent and therefore become their new landlord. It’s a real long shot given lack of landlords wanting to buy but worth a try to stay in a home. Too far away for me to be interested.
Yes, you’re right, I would like to stay where I am. I’m just trying all avenues I can think of. The issue is that I can’t find any other rentals in my area, which is near to where I work.
It’s caused massive stress and anxiety issues, I’ve never suffered with my mental health before.
I realise that landlords are in the business to make money but I hope they also appreciate that when they are evicting long term tenants, that it’s a massive upheaval that can have serious consequences to their mental health.
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Hello Rochelle, I’m sorry to read this, I’ve been in your situation in the past and it really is stressful. Is the estate agent marketing your home as “sold with tenant in situ” in the listing? Are they actively marketing the property as an “investment opportunity” targeted at potential landlords? Where I live in the north, the 2 local agents always try to keep the tenants by putting this in the listings. If not, the landlord might be looking to achieve the highest price from anyone who offers. At the moment a lot of landlords are selling off their properties due to increase in mortgage interest rates, tax changes and other increases in costs associated with the property. Best of luck x
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There’s no mention of a sitting tenant in the listing, I did ask if the landlord would be willing to do this, even if it was just for a short time but he wasn’t interested.
He’s got loads of properties, apparently he’s selling them all.
Average interest rate on a BTL is 6.5%, on a 170k house that is £920 a month in interest alone. You can see why LL are selling up, and others are not buying its not a viable business when price of houses are so high.
@Rochelle I would seriously start the new house seatch process I know you said you like it there and dont want to mive hoevee that MAY be out of your control it is worth looking and even possibky viewing other places until you know FOR CERTAIN what is happening who knows you may even find somewhere else you like but I think to just sit back and not do anything and just hope that someone will help is foolish you are aware of the situation so be pro active
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Is there any way you could buy it yourself? If you could scrape together a deposit and get a 40 year mortgage, the repayments might not be much more than your current rent, and probably less than you’d pay if you had to move.
The landlord might accept a slightly lower offer from you than me perhaps would from during else on the basis that he’s potentially avoiding court proceedings too evict you.
It might be worth having a conversation with a mortgage broker just in case there is a way.
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I’m 57 years old, so mortgage isn’t an option unfortunately but thanks for the suggestion.
I have been looking but I can’t find anyone that will accept my income level, despite the fact that I’ve never missed a rent payment. I’ve got a home owner willing to be guarantor for me but that doesn’t seemed to count for anything.
Sorry to hear about this situation. As a LL all I can say is that I find it unreasonable from you LL not to hear your request. I would ask him again in a friendly way. He should be human and do the right thing!
Also I second the opinion. You should buy it yourself 175 K is not so much money and can be paid off in a lifetime. Good luck!
£690 a month, when taking into account typical 25% deposit required. (Not that this makes it any more attractive!)
You have to factor the cost of the deposit, it doesnt come from nowhere.
Yes indeed, usually from sacrifice