Leaving in early termination

saajan_12

ANDRESANDRES wrote: »

Hello

We already bought the house. - no you haven't.. see below Our solicitors told the following

"We are awaiting the signed contract and transfer from yourselves. We plan to request the deposit from yourselves on the 24th April.
- so you haven't paid for the house, or even signed the contract agreeing to buy the house
We are awaiting replies to enquires and transfer from seller (we wait until replies have been responded before you sign off the contract)



We are also awaiting the water and local authority search results to come back which are due in a weeks time on the 16th."- those are checks to see if the house is suitable to buy (and for the mortgage lender to use as security). Part of deciding WHETHER to buy

I don't think it will take more than 2 months (I wish it takes more than 2 months!) - the solicitors work for you, you can decide when you exchange / complete and instruct them accordingly, independent of how long the searches take. However your vendors may not appreciate the delay and pull out of the sale..

So is possible to buy a house and freezing the mortgage till we move in? Ex. If we have all ready to move in June. Could we speak with our lender etc to the freezer it until October? can you ask? yes. Will they say yes? Highly unlikely.

Thanks

Why did you progress the purchase without knowing whether you can afford it?? You should never have made an offer without knowing your rent liability if you can't afford rent+mortgage.

Now your options are
a) speak to LL and negotiate early termination. They can demand whatever conditions or refuse altogether.
b) Stop your purchase and buy elsewhere or agree delaying compleiton until you can afford it (ie after Oct 2018)

ANDRESANDRES

Hello

We can afford both rent + mortgage. However, it is not the ideal scenario. The main question was if there is any chance to escape from the rent. But after you (all) replies I think the only ways are keep waiting for the LL or pay till October. I