Before proceeding with a mutual exchange, it is essential to follow the correct process and obtain written approval from all landlords involved. Moving without permission or before signing the necessary Deed of Assignment can have serious consequences, including the possibility of having to move back and potential legal action from your landlord to terminate your tenancy.
Once your mutual exchange is approved, the following steps will be taken:
- Move-in Date Agreement: Upon approval, it is important to coordinate and agree on a move-in date with the other tenants involved in the exchange and your respective landlords.
- Signing the Deed of Assignment: An appointment will be arranged for all parties to sign the Deed of Assignment, which covers the terms of the exchange. This document formalises the mutual exchange process.
- Safety Checks: Appointments will be made with the incoming tenant to conduct gas and electric safety checks to ensure the property meets the necessary standards.
Moving in
When you sign for a mutual exchange, you agree to take on the tenancy of the other tenant's property as viewed during the process. Your responsibilities under the new tenancy agreement will be explained when you sign the Deed of Assignment.
It is crucial to address any repairs or issues identified during the inspection conducted by our surveyor or neighbourhood officer before the exchange is completed. You will be agreeing to take over your new home in its current condition. Any decorating or repairs that are the responsibility of the customer will need to be attended to by you.
Remember, it is vital to obtain written approval, adhere to the process, and fulfil your responsibilities to ensure a smooth and successful mutual exchange.