What is our landlord asking us to sign?

[gamesconsoler]

Our landlord has asked us to sign this piece of paper (which has hopefully uploaded with my post) so that he can get a new mortgage. I don't really understand the wording - does anyone know what it means i.e. what we're signing up for as occupiers of the property? Are there any potential ramifications for us?

He hasn't given us any info except that he needs to get a buy-to-let mortgage!

You can hardly sign it if hasn’t been explained to you, given that is one of the things you are signing to confirm. You are entitled to take independent legal advice and you would not be unreasonable in asking your landlord to pay for that advice (to a certain amount at the very least).

I really can't see the landlord paying for legal advice. He gave the impression this was no big deal and it's just a requirement because we're tenants in the property!

I absolutely would not be signing without (paid for) legal advice.

I can't read it, but if you don't understand it , don't sign it until you can get some advice. Either he pays for you to see a solIcitor, or see if you can get advice from Citizens advice, ask Shelter.
My local authority has a tenants advice line which I think all tenants can use.

Basically, you're agreeing that the mortgage company's interest in the property trumps your interest and rights. So if they need to repossess the house, you'll leave promptly etc. It's only really relevant if things go really wrong with the mortgage and if the landlord services the loan it's unlikely to be used.

If you're in scotland, please disregard as property law is completely different.

Thanks for the explanation, leghairdontcare - that makes sense.

We're in Wales.

Oh, me too. That's definitely the case in wales - I've had to sign one myself and used to work in Buy to Let mortgages.

I would suggest contacting Shelter, it's been a while since I did housing advice but I'm pretty sure no such agreements would trump tenancy law.

Thanks, guys