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Mortgage/Home buying advice please
*Kat*
Posts: 1,829 Forumite
We have found a new development that we love, unfortunately not ready until December.
Our flat is on the market and we've had one note of interest (been up for 3 weeks).
I'm hoping we'll sell it around June time, which means we'll have 6mths before the new build is ready.
Halifax will only refund early repayment charge if we take out a new mortgage within 3 months. So...there's a 3mth gap between us selling and buying (IF we sell in June).
We're probably going to have to rent for 6mths...
What are our options here? Is there anything I've not thought about?
Our flat is on the market and we've had one note of interest (been up for 3 weeks).
I'm hoping we'll sell it around June time, which means we'll have 6mths before the new build is ready.
Halifax will only refund early repayment charge if we take out a new mortgage within 3 months. So...there's a 3mth gap between us selling and buying (IF we sell in June).
We're probably going to have to rent for 6mths...
What are our options here? Is there anything I've not thought about?
0
Comments
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Don't exchange until the new house is ready0
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Landofwood wrote: »Don't exchange until the new house is ready
Isn't that a long time for a buyer to wait though?0 -
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Be upfront with potential buyers and your agent if you're using one about your timescales. Accept an offer on the understanding that the buyer waits. If that doesn't sound appealing to the buyer, let them move on.0
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You'll put most buyers off if you tell them you won't exchange until December.
Renting sounds the sensible option, but it might just be more convenient to pay the ERC rather than moving twice."Real knowledge is to know the extent of one's ignorance" - Confucius0 -
Just remembering from your previous posts you are Scotland yes? The system is different up here remember.0
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