Moving in to new home 2-4 days before completion on old one- how?

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CarolFi
CarolFi Posts: 4 Newbie
in Mortgages & endowments
Hi
I want to move into our new home 2-4 days prior to completion on the sale of our current property for various reasons.

The money we are being paid for our home will be lodged with our solicitor 5 days before completion but obviously is not accessible by us until completion.

How could this be achieved simply and cheaply?
A bridging loan (of around 700k) seems complicated and the term seems to start at a month.
My current mortgage company and bank won't consider doing anything.

Another option I guess is a short term tennancy agreement with the vendors
... any other ideas?
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  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
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    Tenancy would work but everyone on here would yell at the owners not to do it.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    CarolFi wrote: »
    Another option I guess is a short term tennancy agreement with the vendors

    You'd be banking on your vendors being out of their tiny minds to agree to that one.
  • ACG
    ACG Posts: 23,727 Forumite
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    For the sake of 4 days I would not do this.
    A bridging loan is probably the only legitimate way, but if you need a Mortgage then you are going to need to declare these changes to the lender.

    But it will also cost you an arm and a leg.

    A tenancy agreement is also unlikely, solicitors will advise against it for you and the vendor. Again, your Mortgage lender would need to be made aware and probably not like it.

    It would be cheaper to dump your stuff in storage for a week and go on a "mini break" for 4 days.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • CarolFi
    CarolFi Posts: 4 Newbie
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    ZX81 I think constructive comments would be far more useful. Please save your energy if you don't have anything constructive to say.

    Thank you ACG. I am not going to be sitting around doing nothing during that period. I have a lot to do to the current house which is why I want to spread the work out a bit.
  • ytfcmad
    ytfcmad Posts: 380 Forumite
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    CarolFi wrote: »
    ZX81 I think constructive comments would be far more useful. Please save your energy if you don't have anything constructive to say.

    Thank you ACG. I am not going to be sitting around doing nothing during that period. I have a lot to do to the current house which is why I want to spread the work out a bit.

    ZX81 made a very valid point !
  • CarolFi
    CarolFi Posts: 4 Newbie
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    ytfcmad well had I been interested in sharing more of the facts you'd see it isn't but I'm not going to, especially in such an aggressive environment.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    ytfcmad wrote: »
    ZX81 made a very valid point !
    And I'll third that (or fourth it, since ACG agreed). It would be very unwise of the vendors to let you move in before completion of your purchase.
  • CarolFi
    CarolFi Posts: 4 Newbie
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    Well that is advice for the vendors and nothing to do with helping me out. Thanks for nothing.
  • Browntoa
    Browntoa Posts: 49,302 Forumite
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    Cheapest safest way to achieve this is to move into a hotel for the 3-4 days and gave the removal people store stuff until completion

    No seller or solicitor in their right mind will let you move in
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  • k3lvc
    k3lvc Posts: 4,174 Forumite
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    Browntoa wrote: »
    No seller or solicitor in their right mind will let you move in



    How unhelpful :rotfl: even if it's the truth that the OP doesn't want to hear


    OP - you've got your answer with a bridging loan if it's that important to you then you need to stomach the cost. There's not another option that anyone on their right mind is going to agree to
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