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Buying a property, but still tied in to rent!
zr160vvc
Posts: 30 Forumite
Hi
I'm a first time buyer and i've now applied for a mortgage and make an offer which has been accepted.
The guy said the property was on the market around Christmas which got sold, but the buyer pulled out last minute as he got made redudent.
So his solicitor has done all the work. The guy selling has another place to move to, and he wants a quick sale.(So there is no chain involved)
I am currently renting and have checked my contract and looks like i cannot break the miminum term. Which is another 5 months(4 payments of rent)
How long do you thing the whole process will take? As i don't wont to have my mortage & pay rent for the remainder of the tenancy!
Is there anything i can do to slow the process down?
I'm a first time buyer and i've now applied for a mortgage and make an offer which has been accepted.
The guy said the property was on the market around Christmas which got sold, but the buyer pulled out last minute as he got made redudent.
So his solicitor has done all the work. The guy selling has another place to move to, and he wants a quick sale.(So there is no chain involved)
I am currently renting and have checked my contract and looks like i cannot break the miminum term. Which is another 5 months(4 payments of rent)
How long do you thing the whole process will take? As i don't wont to have my mortage & pay rent for the remainder of the tenancy!
Is there anything i can do to slow the process down?
0
Comments
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WE recentlly took 12 weeks from offer to completion which, from what i have gathered, is about average.0
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Have you spoke to your landlord, some may be willing to let you out of tenancy early if they can find someone to take your room/house/flat0
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The average length of first view to moving in day is 3 months. Your first mortgage payment will be due one month after you take possession.0
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I official applied for the mortage on the Tues 14th.
On Thursday the 16th, i had the valuation report!
Things seem to going quickly. I will phone up the estate agent and ask them if it is possible to leave the property earlier!0 -
blimey what banks that<put in my note book for refrence>You're not drunk if you can lie on the floor without holding on0
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Regarding the landlord/rent situation, try speaking to them to see if they agree to breaking the contract early. I rent property out and this has happened to me and I was happy for them to be paid up with rent to date (for the month) before leaving and then I managed to get other tenents in straight away.
If they want to be awkward about it they can, but it means their property will be empty for a while, although arguably you are still responsible for it. However, most landlords would prefer a long term tenent and rent agreement and if they know someone is going soon they should be out looking for new tenants straight away.0 -
I got my mortagage with Halifax, and they do all the work for you, which is great for FTB's .
Got told Halifax have two surveyors they can use.0
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