When to sell - Fixed Mortgage 7 months left

marksoton

Veeo wrote: »

Thanks for your helpful comments

Try taking heed of all the one's above.

Veeo

marksoton wrote: »

Try taking heed of all the one's above.

Thanks a bunch (kiss kiss kiss)

Bluebirdman_of_Alcathays

Utterly insane. People do not have to move out at the end of the 6 month AST just because you want them to - and that is just the beginning of your problems.

AdrianC

Veeo wrote: »

But I would also let to sell my house at the end of the fixed term (June 2017) in other to be able to buy in London. This then means I can only rent the house for 6months.

And even that is only providing the tenancy starts this month.

So this is where my question comes in, if I am able to get someone to rent the house from Jan

If a six month tenancy starts in January, it won't finish until July.

when do I put the house on the market to sell with the intention of completing at in June?

Now would not be too soon. Our offer on this house was accepted at the end of January, with no chain either way. We completed in mid May.

Veeo

Thank you all very much, I think I get the picture now x

Ozzuk

If the role you have secured is a senior position then see if they have relocation assistance. Aside from that, as I said, check what your mortgage redemption penalty is as it may not be as bad as you think. If things are that tight, maybe look at renting a room in london mon-thursday and stay in your house on weekends, putting your house on the market earlier.

Tenant would be the last option to explore in my opinion, do you want the hassle of a new job in different area and being a new landlord? Or you pay someone to do it.

Veeo

Ozzuk wrote: »

If the role you have secured is a senior position then see if they have relocation assistance. Aside from that, as I said, check what your mortgage redemption penalty is as it may not be as bad as you think. If things are that tight, maybe look at renting a room in london mon-thursday and stay in your house on weekends, putting your house on the market earlier.

Tenant would be the last option to explore in my opinion, do you want the hassle of a new job in different area and being a new landlord? Or you pay someone to do it.

Thank you so much, really apprciate it.
I checked my early redemption and it is £1,200 so I have decided to stay with relatives and put the house on the market straight away. Its my toddler I feel sorry for really. I just pray I sell really quickly so we can move into our own place.

BlaEm

Are you not able to port your existing mortgage?
If so you could you not look for a property to buy in London now, and sell yours as part of a chain?

FBaby

I think posters are a bit unfair. It is not totally impossible that you could be lucky that someone happens to only want a 6 months rental property, and you could negotiate a below market rate for agreeing to show potential buyers in a reasonable manner to be clarified from the start.

However, the chances of finding such a family in January that won't mess you about are low. The most likely situation is that someone will agree to it, then decide that they have no intention to go after 6 months and blatantly refuse to show any buyers which in reality, there is nothing you could do. You would end up having to take them to court for an eviction, which could take some time, a very long time if you didn't follow all the legal rules. Since you don't seem experienced in what these are, you would be relying fully on your agent, who unfortunately, don't always get it right.

So the conclusion is you have nothing to lose trying what you are suggesting, but by doing so, you are taking a risk that could cost you much more, money-wise as much as stress-wise the to put it for sale immediately.

marksoton

FBaby wrote: »

You would end up having to take them to court for an eviction, which could take some time, a very long time if you didn't follow all the legal rules. Since you don't seem experienced in what these are, you would be relying fully on your agent, who unfortunately, don't always get it right.

I wouldn't trust an agent to do any of that!