I'm buying, but fed up and not my fault.

Mumblecheese_Faceknocker

Afternoon Forum,

My situation is I'm in rented accommodation until 19th Nov. (Lease Expires)
I'm buying a house with 3 in chain, my searches are done, surveys completed, cash is in place. Started process in August and albeit slow progress seemed to be going OK.
My seller last week informs me the survey on the house they are buying threw up problems and wont be moving. They have now restarted their search. :mad:

I'm in a quandary, do I walk away and start again, loosing the fees I've paid, play the waiting game and hope they find soon, rent a new property and delay for further 6 months.

I can possibly get a months extension on current lease.

Happened to any one else?

Regards
Mumbles

mrginge

Why do you think your lease expires?

julieb1987

Have you spoken to your LL/LA? If not say nothing and you automatically go onto a Statutory Periodic Agreement which is usually a rolling monthly contract. Then when you know your completion date hand in your notice (which is 1 rental period). Your LL has to serve you with a Section 21 with 2 months' notice before he/she can evict you. Saves you having to move again and saves you money in admin costs etc.

JanCee

1. Ask your LL if you can go onto a rolling contract when your original term comes to an end. You would then only need to give a months notice on the due rent day.

or

2. Ask the vendors if they would consider moving into a rental property to allow your sale to go through. The advantage for them is that they would be chain free next time.

You have nothing to lose by asking.

Mumblecheese_Faceknocker

Thanks for the quick responses. Yes I have spoken to landlord....They are selling up. The place has been on the market for about 4 months or so. No sign of a buyer so thats how I can extend time in there.

Regards
Mumbles

julieb1987

It's a win win. Your current LL carries on getting his/her income whilst the house is on the market and you have somewhere to live! Remember they have to give you 2 months' notice, you only give them 1. so you'll have plenty of time to find something short-term if needs be.

As JanCee said, speak to the vendor too.

Fire_Fox

Your lease does not expire the fixed term ends, the contract continues until either you or the landlord serves notice to quit and you leave. It is two months for the landlord and one month for you, coinciding with a rent period. No extension is required.

cootuk

maybe suggest they sell to you..it is a buyer's market..and they rent until they find somewhere?

DRP

cootuk wrote: »

maybe suggest they sell to you..it is a buyer's market..and they rent until they find somewhere?

*overall* i would agree it is a buyers' market , but whether that is the case for the OP's particular situation is an entirely different matter...

G_M

Ending/Renewing an AST (what happens when the Fixed Term ends?)(What is a Periodic Tenancy?)(How can a LL remove a tenant?)(How can a tenant end a tenancy?)