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Showing results for tags 'coronavirus'.
Hi all. I am due to exchange on a property shortly. Me and my SO got our mortgage offer just after returning to work from Furlough after the first national lockdown. Our jobs are totally safe but we risk being furloughed again if this lockdown is extended. We requested to complete before the end of this month incase we are furloughed next month as our mortgage lender will withdraw their offer if we're furloughed. We've now been told that we cant complete till the start of next month and they want to us to exchange at the end of this month. I am scared to exchange contracts then find out that lockdown is extended and not be able to complete, running the risk of losing our deposit which would be devastating. I want to do a simultaneous exchange and comple to protect out deposit but the solicitors have said we can't despite the vendor not being in a chain. Can we tell our solicitor that we won't exchange contracts until the mortage funds have been released to them? I'm assuming this would work if there was only a few days between exchange and completion? Will this protect our deposit? Tia
Hi there If anyone is able to give me some advice I'd be really grateful. I have a flat with a tenancy ending May 5th. 2 tenants who are friends. One is moving out. The other doesn't want to move out due to concerns over Covdi19 and wants to stay put and continue to pay his half of the rent. He also doesn't want to have someone new coming into the flat at this time. I have sympathy with his situation plus, it's unlikely I will be able to get new tenants, so having some income would be helpful. I'd like to be able to find a way to help him stay in the short-term, but where we are both still protected by a contract. 1. My understanding is that the AST cannot become a periodic tenancy since one tenant is moving and therefore the contract as it exists effectively ends. What kind of contract would I need to have in place for him to be able to stay for a couple of months, or until the lockdown is lifted, whichever comes sooner? 2. I am currently working through an agent who have been terrible and under normal circumstances my agreement with them would also have been ending on 5th May. I have asked them for help on this so that we can help the tenant, and because I am trying to abide by the terms of my agreement with the agent. However they have suggested the period tenancy or an extension to the existing tenancy - both I think cannot be done because one tenant is leaving, therefore the contract cannot remain the same. I can't get a response from them to move this situation forward. What options do I have to end the relationship with them but still help the tenant? Thanks in advance. Esther