What Rights Do I Have Now My Rented Property Is Up For Sale But No Mention Of Tenants In The Ad?

We signed a new 12 month lease in February – days later, the building went up for sale (landlord owns our flat, the one above and shop below). We only found out when the sign went up! After searching for answers, we discovered it was a forced insolvency sale. However, a few weeks later, the sale was withdrawn. Owner then made repeated visits with a surveyor, and we were then told building would be auctioned on May 1, but sale was again withdrawn.
Property is now up for sale for a third time – whereas before it was offered as a job lot investment, but now each individual property (both flats and the freehold on the shop) are up separately. We’re concerned about being thrown out before the lease ends – and we’re due to have a baby in a month. Further worry comes in that the ad for the flat makes no mention of the fact it is currently occupied by tenants, as is the one upstairs, though they are students and their lease expires in August.
We asked our management company – separate from the owner, and they’ve been rubbish claiming not to know anything throughout – if under the circumstances (particularly as we signed the new lease in the week it went up for sale) we’d be able to give shorter notice than the two month break clause, but they said we’d lose our deposit or have to pay the full two months rent if so.
1. Will a new owner have to honour the tenancy?
2. Do we have a case for being allowed to leave the property (it’s been our home for eight years so we don’t really want to)?
3. Should our occupancy be mentioned in the advert?
Many thanks in advance

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2 Responses to “What Rights Do I Have Now My Rented Property Is Up For Sale But No Mention Of Tenants In The Ad?”

  1. Jo W says:

    Impossible to answer any of this without seeing your agreement. Take a copy to your local CAB and they will be able to help.

  2. Margaret S says:

    New owner has to honour your present lease. Nothing changes for you until the lease ends no matter who owns the property. You have to give the usual notice if you do choose to leave and probably face extra charges for breaking the lease early.
    Stay put your lease is solid.

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