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  • FIRST POST
    • tazzababe100
    • By tazzababe100 13th Jul 17, 3:17 PM
    • 23Posts
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    tazzababe100
    When to give notice
    • #1
    • 13th Jul 17, 3:17 PM
    When to give notice 13th Jul 17 at 3:17 PM
    Hi all!
    Mortgage has been granted as of today so now we have the task of waiting for the solicitor to compete searches etc.
    We currently rent, the contract states we need to give one months notice. As FTB we have no idea how long searches take or how long after that we can complete. Because of this I am unsure when to give notice.
    Any ideas?
Page 1
    • hazyjo
    • By hazyjo 13th Jul 17, 3:20 PM
    • 10,530 Posts
    • 13,703 Thanks
    hazyjo
    • #2
    • 13th Jul 17, 3:20 PM
    • #2
    • 13th Jul 17, 3:20 PM
    When you exchange. It can all fall through before that.


    There is likely to be an overlap, unless you have a month between exchange and completion.


    You will also have to stick to certain dates for notice, but someone else can advise as to that. Without knowing your tenancy dates, I can't say.


    (Average purchase is 12 weeks from offer to completion.)


    Good luck!
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin(!); shoes
    • zx81
    • By zx81 13th Jul 17, 3:20 PM
    • 16,868 Posts
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    zx81
    • #3
    • 13th Jul 17, 3:20 PM
    • #3
    • 13th Jul 17, 3:20 PM
    Not until exchange, at least.
    • DumbMuscle
    • By DumbMuscle 13th Jul 17, 3:25 PM
    • 197 Posts
    • 286 Thanks
    DumbMuscle
    • #4
    • 13th Jul 17, 3:25 PM
    • #4
    • 13th Jul 17, 3:25 PM
    Until you have exchanged contracts, you do not have a final completion date. You will probably end up paying double rent for a month. Budget for this, and bear it in mind when negotiating exchange/completion dates. Exchange can happen when everything is ready (typically ~12 weeks after offer, could be (much) more, could be less). Completion can be any time after that (so you could try for a long enough gap to cover most of your notice period if you want - but the others in the chain may not agree).

    I am about to be in the position of not having a house for a week between end of tenancy and completion. It is ridiculously stressful, even with a ton of plans in place to mitigate it. Don't do it.

    Also check your notice period - is it one month from when you give the notice, or one rental period? (if you're on a statutory periodic tenancy, it's the latter).
    • G_M
    • By G_M 13th Jul 17, 5:01 PM
    • 44,124 Posts
    • 52,317 Thanks
    G_M
    • #5
    • 13th Jul 17, 5:01 PM
    • #5
    • 13th Jul 17, 5:01 PM
    Give written notice on te day you Exchange Contracts.

    Make sure you give proper notice. Read:

    * Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?

    Discuss leaving several weeks (even a month) between Exchange and Completion. The other parties in the chain may or may not agree.
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