Where to find temporary rental accommodation between sale and purchase?

luvchocolate

Private landlords advertise on Openrent 
You deal with them not an agent. 
When my son was having extention build they had to move out for 6 months,  got an Airbnb then covid came and everything stopped they were lucky to be able to stay an extra 3 months it's hard to judge timings 

Albermarle

Hi crow22 said:

Thanks for all comments much appreciated!

A bit more on our situation. We are likely to accept an offer on our property as of news this morning. Need to think about it overnight. But if we accept the buyers need to proceed quickly which we can certainly do. Or as least as quickly as the solicitors make possible!

We have been considering holiday lets over the winter but the problem is finding them. Contacting multiple properties one by one???

Also problem in that a lot seem to have little bits blocked out particularly over Christmas/New year. 

Albermarle said:

As we are mortgage free that would put us as cash buyers. 

Do you mean you have sufficient cash in the bank to purchase a new home outright? Or do you need to sell your own house first/at the same time?
In the former you are 'chain free' which will give you some advantage as a buyer and gives you more flexibility. In the latter case you are same as most other buyers, the fact you will not need a mortgage is not really an advantage.

If you have to wait to sell your own house, then 3 months is going to be too short, even 6 months could well be.

We do have substantial savings in the bank. But we envisage selling this property and having the cash in the bank when purchasing the new one. Thats why we want to rent over the winter. Happy to pay six months up front. 

The problem is if you wait to sell your house and get the money in the bank, before  even making offers on a new house, then 6 months will not be long enough. Typically from accepted offer to completion is around 14 weeks , assuming no major holdups.
You will have to go through that twice , so 28 weeks just for the legal processes alone.

mta999

It will soon be illegal to pay six months up front

crow22

mta999 said:

It will soon be illegal to pay six months up front

Even as a private arrangement?

Martico

crow22 said:

mta999 said:

It will soon be illegal to pay six months up front

Even as a private arrangement?

Don't panic - this was rebutted by @Yorkie1 a couple of posts down on page 2 of this thread. It may happen at some point, but certainly not imminently 

youth_leader

Good luck. If you are coming up this way, I hope you can find a rental - and a house to purchase - with a train station nearby.  We are on the East Coast Main line and some Cross Country/LNER trains do stop at Alnmouth.


I do recommend finding a rental with a garage to store your items.  If you can't, there is a local company who do offer dry storage at Alnwick, called 'We Haul', nice family business.  

mta999

crow22 said:

mta999 said:

It will soon be illegal to pay six months up front

Even as a private arrangement?

yes. Once implemented,  even as a private arrangement

Clauses 13 and 14 will protect tenants from “unreasonable requests for rent to be paid early once a tenancy has commenced”. These will restrict landlords from asking tenants for more than one month’s worth of rent in advance. 

Even in situations where a tenant voluntarily offers to pay more than one month’s rent in advance, it would be considered unlawful for a landlord to accept this.

If your income is low (even if you have lots of savings) you are likely to.need a guarantor.

Herzlos

crow22 said:

Thanks for all comments much appreciated!

A bit more on our situation. We are likely to accept an offer on our property as of news this morning. Need to think about it overnight. But if we accept the buyers need to proceed quickly which we can certainly do. Or as least as quickly as the solicitors make possible!

We have been considering holiday lets over the winter but the problem is finding them. Contacting multiple properties one by one???

Also problem in that a lot seem to have little bits blocked out particularly over Christmas/New year. 

Albermarle said:

As we are mortgage free that would put us as cash buyers. 

Do you mean you have sufficient cash in the bank to purchase a new home outright? Or do you need to sell your own house first/at the same time?
In the former you are 'chain free' which will give you some advantage as a buyer and gives you more flexibility. In the latter case you are same as most other buyers, the fact you will not need a mortgage is not really an advantage.

If you have to wait to sell your own house, then 3 months is going to be too short, even 6 months could well be.

We do have substantial savings in the bank. But we envisage selling this property and having the cash in the bank when purchasing the new one. Thats why we want to rent over the winter. Happy to pay six months up front. 

If you're currently mortgage free, have substantial savings and moving to somewhere cheaper, what's stopping you trying to buy the new place now, with a mortgage if needed, and then pay off the mortgage when the old place sells?

If the old one doesn't sell quickly enough you'll be in largely the same financial position as renting but without the same time pressure. 

If it's just a case of not knowing the area, then you can presumably book hotels in a few different areas for a week at a time to get a feel whilst you're looking at houses. 

subjecttocontract

Paying 6 months in advance sounds great but can create a big problem. If the tenancy agreement shows the payment is 6 monthly instead of 1 monthly then the rent period is 6 months and requires 6 months notice.