19. Mutual exchanges
Mutual exchanges usually take place via a deed of assignment where each tenant steps into the other’s shoes and takes over the other tenant’s tenancy type and terms. New tenancies are not signed.
Under the Localism Act if at least one of the tenants has a secure tenancy begun before April 2012 and at least one of the tenants is on a flexible tenancy, then such exchanges must be done by surrender and granting of new tenancies. In these circumstances, we will grant the tenant whose secure tenancy predated April 2012 a secure tenancy. This will ensure that existing tenants (before April 2012) retain similar security of tenure to that of their original tenancy.
As a landlord we can still refuse an exchange of this nature. We have 42 days to make that decision.
We subscribe to Home Swapper, an internet based mutual exchange service.