Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • tazzababe100
    • By tazzababe100 13th Jul 17, 3:17 PM
    • 23Posts
    • 2Thanks
    tazzababe100
    When to give notice
    • #1
    • 13th Jul 17, 3:17 PM
    When to give notice 13th Jul 17 at 3:17 PM
    Hi all!
    Mortgage has been granted as of today so now we have the task of waiting for the solicitor to compete searches etc.
    We currently rent, the contract states we need to give one months notice. As FTB we have no idea how long searches take or how long after that we can complete. Because of this I am unsure when to give notice.
    Any ideas?
Page 1
    • hazyjo
    • By hazyjo 13th Jul 17, 3:20 PM
    • 9,321 Posts
    • 11,768 Thanks
    hazyjo
    • #2
    • 13th Jul 17, 3:20 PM
    • #2
    • 13th Jul 17, 3:20 PM
    When you exchange. It can all fall through before that.


    There is likely to be an overlap, unless you have a month between exchange and completion.


    You will also have to stick to certain dates for notice, but someone else can advise as to that. Without knowing your tenancy dates, I can't say.


    (Average purchase is 12 weeks from offer to completion.)


    Good luck!
    2017 wins: Opera tickets; film preview; lipstick; Ideal Home Show tickets + afternoon tea & bottle of Champagne; 2 cases of NKD; notebook; bath rack; books; film Premiere; Broadchurch DVDs; lipbalms; hamper (food/wine/Echo Dot/Jo Malone goodies); Avon lippies
    • zx81
    • By zx81 13th Jul 17, 3:20 PM
    • 12,678 Posts
    • 12,936 Thanks
    zx81
    • #3
    • 13th Jul 17, 3:20 PM
    • #3
    • 13th Jul 17, 3:20 PM
    Not until exchange, at least.
    • DumbMuscle
    • By DumbMuscle 13th Jul 17, 3:25 PM
    • 196 Posts
    • 290 Thanks
    DumbMuscle
    • #4
    • 13th Jul 17, 3:25 PM
    • #4
    • 13th Jul 17, 3:25 PM
    Until you have exchanged contracts, you do not have a final completion date. You will probably end up paying double rent for a month. Budget for this, and bear it in mind when negotiating exchange/completion dates. Exchange can happen when everything is ready (typically ~12 weeks after offer, could be (much) more, could be less). Completion can be any time after that (so you could try for a long enough gap to cover most of your notice period if you want - but the others in the chain may not agree).

    I am about to be in the position of not having a house for a week between end of tenancy and completion. It is ridiculously stressful, even with a ton of plans in place to mitigate it. Don't do it.

    Also check your notice period - is it one month from when you give the notice, or one rental period? (if you're on a statutory periodic tenancy, it's the latter).
    • G_M
    • By G_M 13th Jul 17, 5:01 PM
    • 40,553 Posts
    • 46,397 Thanks
    G_M
    • #5
    • 13th Jul 17, 5:01 PM
    • #5
    • 13th Jul 17, 5:01 PM
    Give written notice on te day you Exchange Contracts.

    Make sure you give proper notice. Read:

    * Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?

    Discuss leaving several weeks (even a month) between Exchange and Completion. The other parties in the chain may or may not agree.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

158Posts Today

1,057Users online

Martin's Twitter