House buying: when would you give notice on rented property?

hohum

So

First purchase.

Finally have a mortgage offer (offer issued week and a half ago). But do not AFAIK have a contract from seller's solicitors gone to our solicitors.

There's no chain.

We are currently in a place on a periodic rolling tenancy with one month notice in writing. Our tenancy month period runs from 15th month.

So, if I give notice today or tomorrow we will have four weeks to complete and exchange.

Given performance so far from seller's agents and solicitors, would say they are not exactly proactive.

A month isn't going to be enough is it?

I would rather avoid having to pay rent and mortgage, at the same time the idea of having to move our stuff twice (to storage and then to house) sounds dire....

LEJC

Our last chain free purchase has just completed and it took 12 weeks...
some can really drag on but I would think that to be a reasonable estimate if both parties are willing and able to move.
With regard to paying rent and mortgage,although your mortgage is agreed its normally not yours for paying until after the monies are released at completion....and then paid in arrears so its more likely that your mortgage payment will not be required until after you have moved in

Your solicitor will discuss an exchange and completion date once all the searches and paperwork is complete and in fairness if you let them know you are on a contract requiring one months notice this can easily be factored in.

Pixie5740

Hold off giving notice until you've exchanged. You don't want to end up with the hassle of having to move twice.

hohum

Thanks all. You're right...wishful thinking on my part. This has already dragged on 12 weeks, with mortgage shenanigans. Also thanks for reminder to raise 30 day notice with solicitor.

birminghamuniv

I was in the same situation and was always advised by my solicitors not to give a notice until contracts exchanged. Practically, most people expect to pay rent for max two months.

benjus

At least you're not in a long fixed term contract. If you did hand in your notice before exchange and the purchase was delayed and the landlord had already found new tenants, you could find yourself having to sign a new 6 month tenancy.

You're in a good position - just do your best to get to exchange quickly. I remember last year being in a similar position. On the last day I could send notice to me landlord (before having to wait another month) we were supposed to exchange. I called the solicitor who said it wasn't quite ready yet, and as it was 4pm it would probably have to wait until tomorrow. I explained that I wanted to send my notice that day, and he said he'd see what he could do. Called back at 4:55 to say he'd exchanged, so I dashed over to the post office to get the notice in the last collection of the day.

Fake_Northerner

We gave our one months notice in when we got our completion date confirmed. At least then you know you won't end up with nowhere, you never know what hiccups will happen along the way.

martindow

Fake_Northerner wrote: »

We gave our one months notice in when we got our completion date confirmed. At least then you know you won't end up with nowhere, you never know what hiccups will happen along the way.

There can be a lot of discussion on dates, but until exchange these can be aspirations and wishful thinking. I would not give notice until exchange has actually happened. If the date slips and you have already given notice you can be charged double rent if you stay on

An overlap can make moving much more relaxed and give you the opportunity to redecorate before you move in.

ellie27

Soon as we have signed missives we will give our notice then, but not before.

We are unlucky to be in a 12 month fixed rental and only 6 months into it!