Where to focus - mortgage, renovations etc?

shellstar

Sooo… the first 3 houses in the chain (including my sale and purchase) are now ready to exchange. I also negotiated a £7k reduction in price on my purchase due to some issues found in the loft, which I will need to rectify after completion. I'm now told there are 2 other houses in the chain and they are not yet ready. Apparently they are at final enquiries and so it isn't clear how long things will take. The fixed rate on my current house ends on 30th September and there is a big jump after that to over 7% so I am hoping we can complete soon to avoid having to be on that rate for very long.

I've chosen my preferred movers. I was getting quotes for clearance of ex-DPs rubbish he never took to the tip, and most also do removals so thought I might as well get quotes for both. My faves are significantly cheaper than other quotes (over £1000 cheaper for the same service) and I've used them before. They will be packing for me too. I considered doing it myself, but these guys will pack me for the same price others will just move me, and I think honestly I will just have a breakdown if I try to pack up this place by myself whilst working, starting placement, starting my MSc and caring for DS and dog.

And yes, I've secured my first placement! Still sorting the paperwork and it's supporting some very vulnerable people so I am super nervous, but so relieved to have found a placement that can accommodate my limited availability.

Scotland was nice. I broke up the journey on the way up there and DS was jumping on the bed until 10pm having the time of his life (there was a massive mirror directly opposite the bed). He also woke up at 4.30am, though tbf he is regularly waking 4.30 - 5am atm since I took the bars off his cot. So the way back I just drove down in one day. Lots of regular stops for snacks, wees, dropped toys but he was honestly a dream. Slept a fair amount of it. It was tiring, but no more so and it was easier. I bought him a felt book from the works and that kept him quiet for AGES.

So, keeping fingers crossed we're nearly there now for the move! I even bought some new toy storage (Ikea TROFAST, obvs) as it's needed regardless and then the old, dilapidated storage can go with the other clearance items. I tried to find some on Facebook marketplace, but nobody was selling the configuration I need.

South_coast

You are doing so well. Fingers crossed for a speedy exchange now so you can really start the next phase of your life. You are so close now 🩷

debtfreewannabe321

Yay to nearly exchanged! I find buying and selling so much more stressful these days for some reason. I'm sure it wasn't this tense years ago (or did I just not care so much). We had the same problem here with the loft extension done early '90s. Our mortgage company were being pains about it and demanding paperwork that also didn't exist. I cried too. It really is stressful. You're very nearly over the finish line now, then you can say goodbye to being tied to ex and start again.... positive vibes for a quick exchange and easy move ✨.

shellstar

@debtfreewannabe321 I think as well that I once had a purchase fall apart on the day before exchange. it was honestly so upsetting, as I had given notice on the place I was living and then had just 3 weeks to find somewhere to live. Not to mention the money, and I didn't earn very much at the time. I also tried to sell a house during the financial crisis and honestly, this time has felt harder and more precarious than that. It's definitely taken longer (that house took 15 months to sell, we're currently on 15 months for this time).

I am remaining hopeful and trying to get excited, but I think until we have actually exchanged, I won't be able to relax. I just can't count chickens in this process. It's a terrible system imho.

shellstar

The chain has collapsed at the top. They have pulled out of their purchase and have offered on something else, so the timeline is now effectively re-set. Spoke with ex-DP, and once our mortgage is up this month, it will jump to £900 more per month and he tells me he can't afford this for more than 1 month. EA thinks it will be another 3-4 months before completion now.

So, I've decided to break the chain and sell this house. It at least changes the problem I have and gives me new worries, which will be nice. :)

I'm now looking into rentals or friendly sofas that can also accommodate a toddler and a dog. Will update when I've sorted something.

Yorkie1

Oh dear, sorry to hear this. At least you will hopefully be more in charge of your own destiny, however difficult that might be.

debtfreewannabe321

Oh, I am so sorry shellstar, you sound remarkably bright about it ....I think I'd be in shock and floods of tears. Well done for thinking fast, I take it your buyer can just go ahead and buy now? Or do they have something to sell too? I really hope it doesn't take long. And I guess you'll be in a better position to buy again with no chain but this is super upsetting so close to the finish 🤦🏻‍♀️.

shellstar

I have a friend whose house sale recently fell through and her family has had to move to Austria, leaving their house empty. They have a new buyer now, but she has offered for my son and I to live there until completion on her property. It is no chain (first time buyer) so could happen fairly quickly, but I've agreed to that. I've suggested a completion date of 1st October on this house. I can't take my dog as her house is a new build and she's selling it as pet free, but my mum has kindly agreed to have my dog for me. I feel sick at not bringing him with me, and worried about where my son and I would be if this new house does complete quickly, but I think that is the best solution for now. I've called some estate agents re: rentals but mostly they've said that rentals won't be available until mid-November, as they tend to come up a fair way in advance at the moment. They also cost a bomb! It's been a while since I was in rented and when I was, it was a house share. Eye opener. The rents really are crazy out of control. Young people are being royally screwed which of course we knew but man, it's not even just a little bit. The rents on a two bed flat are more than my mortgage on a three bed semi is going to be!

shellstar

I've found a rental available in the same village as my onward purchase, that is very high rent and thus very much available now! I'm going to view on Friday. I did a drive-by and it does not look as nice as the photos, but hopefully it will only be for a few months. It's bigger than I need as I was looking for two beds, but only this 3 bed is available. It's a small village. Rental wouldn't be an option except that the law has changed now and you only have to give 2 months notice. I'm sure that is a pain for landlords but I am so grateful to have this option. I realised during DS's frequent 4am waking that the thought of sofa surfing, moving several times etc. was really stressful and likely expensive so I'm going to grab this rental option if it's suitable so we can be settled, and in the right catchment to apply for schools whilst we wait for our purchase to be ready. It will give us time to get used to the village.

In my efforts to declutter I've been doing quite well on Vinted. I've made £73.25 so far in the last few weeks selling mostly DS's old clothes and toys etc. I do a reasonable amount of buying and selling on Vinted but it's been a while since I sold so much so quickly. I usually leave it in Vinted to help fund purchases for DS (clothes bundles, coats etc) but I think I'll transfer this money to the moving fund, given I'll be moving at least twice and will need a bigger pot.

Date of completion is set for 23rd October. We haven't exchanged contracts yet. I signed and sent it 24hr tracked to ex-DP (he works, so couldn't do guaranteed delivery as he wouldn't be in to sign). Well, they didn't track it and 4 days later its still not arrived so I sent it again yesterday. Fingers crossed this one gets there soon. Bit miffed about the extra £3.95! I am hoping we'll exchange early next week. Almost there!!!!! EEEK!
Fingers crossed everyone… We might just make it!!!

shellstar

We have exchanged!!!! YAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAY!! Champagne all around!

I lost the rental I found. We were supposed to exchange yesterday and for some reason didn't. I have no idea why. Late yesterday afternoon, someone else secured the rental. I have 23 days to find something else before I have to leave this house. I back myself I will.

What a moment though. Hurrah!!!!