New build completion delay- help advice anything!

Doorlock21

My story:

About to exchange literally this week- developer said oh house won’t be ready until December. 

Our buyers mortgage offer expires in November and can’t get an extension. 

An option is to to complete on our chain, move out and rent and wait for the house to be finished. 

Our mortgage offer expires in feb, and it cant be extended.

So the risk is, we may move out, delays even further past December and our offer expires and we are left without any house and homeless.

They have said they will put in just a 2 month short stop clause. But still means they can go over and we be left without a home. But not sure how big the risk is of them going over that?

What are your thoughts?
 Anyone been in a similar situation and been ok? Or not ok?

pinkteapot

Duplicate thread: https://forums.moneysavingexpert.com/discussion/6380178/new-build-delay-going-into-rental/p1

hpsauce86

pinkteapot said:

Duplicate thread: https://forums.moneysavingexpert.com/discussion/6380178/new-build-delay-going-into-rental/p1

No it isn’t. 

hazyjo

hpsauce86 said:

pinkteapot said:

Duplicate thread: https://forums.moneysavingexpert.com/discussion/6380178/new-build-delay-going-into-rental/p1

No it isn’t. 

Certainly similar enough to have stuck to 1 thread. Thought it sounded familiar...

anselld

hpsauce86 said:

pinkteapot said:

Duplicate thread: https://forums.moneysavingexpert.com/discussion/6380178/new-build-delay-going-into-rental/p1

No it isn’t. 

Yes, there are now three separate threads on essentially the same issue... new build purchase delay and associated mortgage / chain issues.   Better to stick to one thread.