Looking buy in a few months but now need to move out ?!

Paulpen

Hi guys !

This year was going to plan as we have most of our deposit saved and were hoping to speak to a mortgage advisor in July with the intention to be looking at houses straight away.

Today however we have had the notice the the landlord wants to sell up so we have two months notice really. We dont have an issue with this as its his house and he has left us to it over the years.

We wont be looking at renting again between moving out and buying so looks like we will be mothing in with the wifes parents for a bit.

Our main concern now is that will an address change so close to applying for a mortgage effect things ?

We would have to change the address on all our banking, driver licence etc and will have to change the electoral role too I assume ?

We did think about just getting all the mail redirected but we will still have to change the electoral role. We are not sure how this will effect the application in the coming months or what are options are really

Many thanks

Paul

Hoploz

Speak to a mortgage advisor now and get looking! You could tie all this up before you have to move out!

Paulpen

Its certainly something we will be trying to do although we were hoping to have a few months of spending very little so our accounts looked better.

Surely the whole process will take over a couple of months though ?

Wi88le

Not fancy buying off the landlord?
I think the chances of the landlord selling and exchanging within 2 months are low, they have given you the two months notice that they have to give you but might well be happy to extend that if it is mutually beneficial to both of you, I'd suggest discussing it with them.

S21 served? If so don't believe that they have to get you out on that date or even start court proceedings.

Paulpen

Not really - the house is too small for us and would need quite a bit spending on it to bring it up to date.
We did try to sound him out on what he wants to do but as he is yet to have it valued etc hes not even sure what its worth yet.
Ideally we would like to be here until we buy but I just cant see that happening and dont want to rush into buying somewhere just basause of time constraints.

Pixie5740

Just move into your outlaws for a while which should hopefully mean being able to save more money whilst you look for somewhere to buy. I wouldn't worry too much about the change of address as a number of people who sell a property move in with relatives or a rental property before completing the purchase of the next property.

You're LL might let you stay a bit longer whilst he sells the place as it means less of a void period.

You're right about not wanting to feel rushed. Buying a property can be stressful enough without this added time constraint.

Callie22

We had to move just a few months before we bought. It didn't cause us any problems, we just had to provide the addresses of where we had been living to our mortgage adviser. Changing bank details etc wasn't an issue at all.

Paulpen

Cheers Pixie - its less the worry of address change its more the concern of possibly applying for a mortgage after possibly only a month or so of an address change.

Thanks for that Callie - goes someway to easing the worry

Pixie5740

What I was meaning was that a number of buyers do change address between selling and buying and it seems to be fine.

Paulpen

Ahhhh I understand now

G_M

Have you actually spoken to your landlord? If he knows your plans he may be willing to defer his sale. Communication is a wonderful invention.

You have not been given to months to leave. You have either been given a legally meaningless letter expressing the LL's wishes, or a S21 Notice stating that after two months the LL may start the process of ending the tenancy by applying to the court.

* 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?