Vendors buying new build

tweet86

We are currently living in rented as we sold our house a couple of months ago and have had an offer accepted on a property we love. The vendors are buying a new build which is estimated to be finished just before Christmas. Ive heard very few stories about new builds being finished on time (Particularly ones with a winter completion) and am worried that the date will be delayed even further, especially with the current situation. Our rental is due to finish in November, and we had hoped we would be close to moving by then. It feels unreasonable to see if our vendors can move into rented but it’s also feels unreasonable for us to pay a lot more in rent due to delays that may happen with a new build. Can anyone offer any positives stories about new builds completing on time?  

hazyjo

Could you please explain what you mean by your tenancy being due to finish in November.

You should just be able to continue on a rolling/ periodic tenancy. No need to sign up for another year.

tweet86

We could go onto a rolling (although I need to check with the landlord). We need to give him 2 months notice on the house, which can be difficult of completion dates aren’t set in stone. 

eidand

The way new  builds are going I think you'll be lucky to move in around June next year. When people talk about delays it always is a significant amount of time.

Slithery

tweet86 said:

We could go onto a rolling (although I need to check with the landlord).

No, you don't need to check with the LL. Your tenancy will automatically become periodic if you don't choose to leave the property.

hazyjo

As above, you don't need permission. It just becomes a rolling contract.

And you'll only have to give one month's notice.

Slithery

hazyjo said:

And you 'll might only have to give one month's notice.

Depending on whether it's an SPT or a CPT....

tweet86

eidand said:

The way new  builds are going I think you'll be lucky to move in around June next year. When people talk about delays it always is a significant amount of time.

This is what I was worried about. I’ve heard so much about delays. Our estate agent said the exchange will happen within 4-6 weeks but we don’t want to be tied in waiting for months for their property to be completed. Our mortgage offer will expire and we will be paying out a lot in rent.