I'm a tenant being asked to sign form to say I am aware Landlord has a mortgage on house?

[LovelifeHa]

Hello, I've been a tenant in my current house for approx 3.5 years. My landlord is about to take out a mortgage on it (previously I believe the house was mortgage free but I don't really know). I've now been asked to sign a form issued by their solicitor saying that I am aware that the house has a mortgage and that the mortgagee may repossess the house if the landlord defaults on the mortgage. By being aware of this, the next line seems to indicate that should the house be repossessed that they can do this prior to the end of my tenancy.

Does anyone know if this is correct and that I am ok to sign this? I've never come across this before but according to the agent and landlord its becoming more common (I guess so that houses can be repossesed sooner rather than wating for a tenancy to expire).

Thoughts/experiences/advice all welcome please. TIA

No I wouldn't sign one of those. If your landlord defaulted on the mortgage the mortgage company will be able to repossess the house.

They can repossess in any case whether the tenant is in a fixed term or not.

They'd be able to repossess the house anyway. The question is whether it would allow the mortgage company to evict/end the tenancy sooner.

They will be able to anyway surely.

That would happen anyway. The house next door to me was being rented and the tenant had to move out when the landlord went bankrupt. She had said her rent up to date I think being asked to sign that you were aware it could happen is just so you know. My neighbour certainly didn't expect it.

That's absolute tripe 😂. The mortgage company can do that anyway.

It's is simply to confirm you're a tenant and have no financial interest in the house. Just sign it, it means nothing to you.

One the Renters Rights bill is in place tenancies will no longer have fixed terms so tenancies will never 'come to an end' until the tenants serve notice or the landlord has grounds to evict such as selling the property.

The solicitor is just doing their job making you aware that repossession has now become a possibility.

Landlord with a mortgage here, there isn’t any extra protection to the tenant if they sign or not. If you don’t sign then your landlord might not get the best rate, you might think this irrelevant until your rent goes up. Any mortgaged property bank own the right to repossess in situation of default.

Your tenancy agreement may cover you for accommodation elsewhere, normally used due to a flood/fire/other awful disaster.

I'd say there's a fair chance if you don't sign it then your ll might struggle to get the deal he's applying for which may well lead to an increase in his monthly payments and hence your rent. I'd sign it ASAP!

Ok, thanks all. I'm happy to sign it, I just wanted to be sure there was no 'hidden' liability as I've never come across one before. They are posting me a hard copy to sign and return anyway so no immediate rush

Of course they can still repossess the house even if she doesn't sign it!