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How early is too early?
the_insider
Posts: 795 Forumite
OH and I are wanting to move out of the area we are currently living in and our fixed term mortgage finishes in August.
I have (rather foolishly given the timescales) been looking around for other properties in the area we would like to move to and have fallen in love with one that I've seen the brochure for. We're not planning to move until after the fixed term ends, is now too early to be viewing and making offers? The listing says that there is no onward chain, anybody been in a position of asking a vendor to wait 5 months?!
I have (rather foolishly given the timescales) been looking around for other properties in the area we would like to move to and have fallen in love with one that I've seen the brochure for. We're not planning to move until after the fixed term ends, is now too early to be viewing and making offers? The listing says that there is no onward chain, anybody been in a position of asking a vendor to wait 5 months?!
Getting married 02.08.14
Wins for the wedding: membership for a 'wedsite' and app, £35 gift voucher for party supplies shop, £50 worth of hand painted signs, 1kg of heart shaped marshmallows :money:
Wins for the wedding: membership for a 'wedsite' and app, £35 gift voucher for party supplies shop, £50 worth of hand painted signs, 1kg of heart shaped marshmallows :money:
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Comments
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Very often going through the procedure of buying a property and getting to the completion date can take as long as five months.0
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So much can happen in the property market in five months. Are you hoping to agree a value now and pay it then?
How much will it cost to get out of your fixed period? We have to pay 1% on the outstanding balance to get out of our Woolwich mortgage but having calculated it all, it's worthwhile and we'll be paying that and moving to a HSBC mortgage.0 -
The ERP is under £2k but we're going to be cutting it really fine to get a mortgage at the new amount so we'd rather not have to pay it if there's any way around it! I think we'll just have to hold our nerve and see what's around in 5 months.Getting married 02.08.14
Wins for the wedding: membership for a 'wedsite' and app, £35 gift voucher for party supplies shop, £50 worth of hand painted signs, 1kg of heart shaped marshmallows :money:0 -
It took us six months to complete last year and when we first made the offer we both wanted a 28 day completion as no chain involved...You just do not know how long it takes..It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
I don't think that you are in a position to start making offers on any properties yet since you don't even have your house on the market. Are you planning to go on the market soon with the thought that completion would be at least five months away, or are you planning to wait until nearer August? If you are desperate for this house, I think your best move is to get your house on the market asap, and see if you can get a buyer and then see where you are - but until you have that side of things in place, everything else is wishful thinking.0
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