First time buy, currently in rented

stinabean

Hi

We've made an offer on a house and it's been accepted. Obviously hugely excited, and arranging a second viewing next week just to measure some wall space to put cupboards in etc.

Firstly, is there a 2nd viewing recommendation list? Is there anything we really should be checking before everything goes ahead?

Secondly, the estate agents are saying that everything should be done and dusted around end of July. Our tenancy ends very early August so would have to give our one months notice beginning of July. Is this risky in case it's delayed as in my eyes we'll end up with nowhere to live? Also, what if it magically completes a lot earlier, we would struggle to pay both mortgage and rent.

Any advice appreciated, have tried searching but always get results about buy to let instead!

Thanks all x

Pixie5740

stinabean wrote: »

Secondly, the estate agents are saying that everything should be done and dusted around end of July.

Until you exchange contracts all bets are off. Do not, and I can't stress this strongly enough, give notice to end your tenancy until you have exchanged contracts.

stinabean wrote: »

Our tenancy ends very early August so would have to give our one months notice beginning of July. Is this risky in case it's delayed as in my eyes we'll end up with nowhere to live? Also, what if it magically completes a lot earlier, we would struggle to pay both mortgage and rent.

I assume you mean that the fixed term ends in early August. You do not need to give any notice to end a fixed term tenancy it just, well ends when the fixed term does. It is polite to give the landlord the heads up though but as said above do not start giving leaving dates until you have exchanged contracts. If you remain in the property after the fixed term ends then you will automatically start a periodic tenancy and you would have to serve notice to end it. See G_M's guide to Ending/Renewing as AST for further information.

A cross-over period between renting and buying is very common. It makes the process of moving a bit more relaxed as you don't have to do it in one day. It also gives you the opportunity to straighten up the rental property once all your belongings are out which gives you a better chance of getting your full deposit back.

LKRDN_Morgan

I'm in the same position as you and have been told not to mention anything to the LL until we've exchanged contracts. We're on a fixed term tenancy and although we don't have to give notice as such we're going to make the LL aware 1 month before we move. We could tell her sooner as we're going to have about 7 weeks between exchange and completion but the house is going to be mid-packed so don't fancy having to do viewings when it's in the half and half stage.

if you pay your rent in advance you last rental payment will be due early July so just plan the completion for after that date.

stinabean

Thanks both, really appreciate this - I would've told her so soon and probably end up in all sorts of mess!!

So wait till contracts signed and exchanged, then I'll get a date?

So if I say nothing to LL my contract will just go to a rolling one month contract? In previous properties (only been in this one 7 months) i've had estate agents pressuring me to sign for another year around 2 months before it's due to end

Pixie5740

Part of exchanging contracts is agreeing the completion date.

Yes, if you read the information in the link I gave you it explains what happens at the end of a fixed term.

The letting agent can pressure you all they like it doesn't take away your contractual or statutory rights. Feel free to ignore them until you have your completion date.

LKRDN_Morgan

stinabean wrote: »

Thanks both, really appreciate this - I would've told her so soon and probably end up in all sorts of mess!!

So wait till contracts signed and exchanged, then I'll get a date?

So if I say nothing to LL my contract will just go to a rolling one month contract? In previous properties (only been in this one 7 months) i've had estate agents pressuring me to sign for another year around 2 months before it's due to end

If you haven't moved out by the date your fixed tenancy ends then yes it will continue as a periodic and you'd have to give notice then so you want your completion date to be before then.

I know it's hard but just ignore the LA. They'll be wanting to secure their renewal fee so it does give you a sense of satisfaction knowing they won't be getting it this time I've been ignoring mine for a month now and I'm even due to renew until the end of June. They're relentless