Landlord valuation

[user1498168196]

HELP! I've just been told today by the estate agents that I rent from have had an email to say the landlord wants to have a valuation done. I've been in tears all day as I'm so scared, I love this house so much. My credit rating is ruined as my husband had cancer and we lost our business so how on earth will we be able to rent again as they all do credit checks. I rang the estate agent up and she said normally when landlords want to sell they'd ring them up not send an email, but I explained she does everything by email to them. She has already paid the mortgage so I can't see any other reason for the valuation other than to sell. My mum thinks it could be if she's changing building insurers. Any advice would be appreciated.

No one can advise, I'm afraid, you need to contact the landlord using the details to which you are legally entitled.

If you have a fixed term contract then a new owner becomes your new landlord. If not, get informed of the notice procedure, especially if you are looking for council accommodation. You of course have had no notice and it may not be happening.

New tax laws are meaning a lot of landlords are selling, but if there is no mortgage this doesn't have an effect. Could be change of personal circumstances, house not meeting future epc etc etc.

Or could indeed just be a valuation for another reason.

They could be looking to release some equity in the property, it doesn't necessarily mean they will be selling.

They may be remortgaging to get equity out. I.e. Borrow against it.

I've since been told by the estate agent the email she sent said she's considering selling. I'm gutted my credit rating was ruined when my husband had cancer and we lost our shop etc. I can't see how my credit checks will even pass getting a new rental. I feel lost and really worried 😭

Ah. It does happen of course, although it would be courteous to tell you.

If you aren't already, get informed of your rights re viewings, notice etc . you hold a lot of the cards so cooperation from your landlord would be sensible from them.

The estate agent said as long as I tell them when they do another credit check why my credit rating is bad due to cancer and losing our business it will be considered. Plus the fact I'm with them as a tenant already and haven't got behind with my rent it might be ok. Trouble is everyone's selling no ones letting out properties at the moment.

That is the idea of the new rules, to try to reduce the btl sector. Mumsnet in general will be delighted...

A good reference does indeed go a long way, as does a good tenant history as you have. I wish you the very best.

Sometimes houses are sold as BTL including the tenant, I have seen a couple recently

Be lovely to your landlord and lovely to your estate agent: good references from both will help you. Be as flexible as you can.

I've been told that she only deals with the estate agents through email. Also this house is a huge semi detached and because the houses are selling so fast at the moment not many want to rent these types of houses out as they are worth a lot of money.