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To overpay for the house or for the rent?
Comments
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poppysarah wrote: »So why does it matter to them when they let it?
Don't know. That's what the landlord said.0 -
Hi,
I would encourage you to separate the decision of buying this house from the renting issue. Is this the best house for you, given all the other houses you have seen? Concern is that the pressure to get a house could cost you more - paying £20k more plus interest, plus stamp duty..especially if it isn't your long term house. I would be very surprised if they can get offers close to asking if they paid £245k in 2007 - that's a substantial increase even after a few updates.
On the house buying process - a very quick sale is 6-8 weeks but if there is a chain then it's more likely 3-4 months.0 -
When you are looking at the costs, remember that what you "overpay" on the house isn't just the few £k now that you have to put down. If you are getting a bigger mortgage to fund it, you'll be paying interest on that few £k for the next (25) years. That is likely to add up to a heck of a lot more than 6 months increased rent.
Balance that against how much you a) want your own place and b) want this place in particular. A few £k more for the perfect house could be worth paying. Even if its not the perfect "forever" place, the perfect starter place when you are ready to move is worth paying a bit more for.
And balance that against the fact that purchases can take ages - you can pretty much write December off now so you'll only have 5 months of your new tenancy agreement left. If you found something else or waited till this vendor wised up to what his house is worth, a little bit of foot-dragging on your part could easily find that completion ends up being near the end of the tenancy.
Personally, I'd go for calling the LLs bluff. Unless there are already new tenants queuing up to take the place off you, only a fool would give 2 months notice and guarantee no rent - especially if their argument is that its hard to rent out in winter! But as it is your life and your family only you can decide if this is a gamble worth taking.0 -
and just to add to everyone else's comments. You won't need a nice reference from your LLs would you. If LL decides to be a bully and serve S21 because you won't sign an ast with them then I'd turn around and say that they can kiss goodbye to any sort of access for viewings.
Chances are the S21 will have a booboo in it anyhow.Inside this body lays one of a skinny woman
but I can usually shut her up with chocolate!
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Well, I just received the notice.
Guess I still have a chance to get back to the LL and offer him the AST.0 -
Well, I just received the notice.
Guess I still have a chance to get back to the LL and offer him the AST.
The reason that he has given you notice this early is precisely in order to try to force you to sign the AST. This is a blatant attempt at manipulation.
Read the notice very carefully, particularly the dates on it.
I'd be calling his bluff personally, be giving him my one month's notice to leave on 6th December and there's no way in hell I'd let him conduct any viewings whilst I was paying the rent. Good luck to him getting a new tenant in early January.
But then I don't have children and I do completely understand that you don't want them to have to move more than necessary. Difficult situation and I sympathise.0 -
Just because you have been given notice does not mean that you have to leave at the end of the two months. The landlord will have to go to court to get a possession order and you could decide not go then, so they will have to go back to the court to have bailiffs appointed. Depending on how busy the courts are this could take several more months. And that's assuming that the Section 21 Notice has been correctly served in the first place. From what I understand many, many landlords get this wrong0
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Thanks for all your sympathy. I am at my wits end. God help me act in the right way.0
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Can I just ask if there is a letting agent involved ?Inside this body lays one of a skinny woman
but I can usually shut her up with chocolate!
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it means that I agree with that post and have nothing further to add.
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