We are first time buyers and have recently had an offer accepted on a property. We are currently renting through an estate agent and have never met our landlord. We have lived here 3 years and we have a 6 month fixed term contract until 31st January.
So far in our home buying stage we've had an offer of mortgage and from what my solicitor tells me , she is waiting for the contract from the seller. It's been two weeks since it's all started roughly.
I contacted our estate agent for the place we're renting and asked about notice period if we were to leave before our 6 month period is up which is for another 4 months. They have said that we pay a £300 fee for terminating early and then pay for every months rent until a new tenant is found. We can't afford to do this so I am now really worried.
Once we exchange contracts could I delay the completion date til the end of January? Roughly how long do you think it will take for everything to go through? There's no chain and the house is ready to move in. Sellers moved out a long time ago and were renting the place out. I am just really worried I am going to be paying mortgage and rent at the same time.
Would love some advice from anyone whose had experience !!