Renting the house we are waiting to buy?

[PotatoQueen]

We're in the process of moving, the buyer of our property are keen to move in quickly, but we're having a bit of a wait for our mortgage offer to come through for various reasons, we're looking at another couple of months.
We're thinking of asking the vendors of the new property whether they'd consider renting it to us until everything's sorted (it's currently empty, and was on the market for 18 months before we offered).
We don't want to have to move out and rent elsewhere, as this would mean a min 6 months tenancy. We would also offer to pay any fees associated with arranging the rental.
Any thoughts/experiences?

Bump?

I live in Australia and people seem to do this all the time. It's very much the norm.

We were the vendor in a similar situation. We moved out, and our buyers moved in and rented from us while we waited for the sale to go through. We did it properly though - contracts etc. Worked very well for us.

Work have done it a few times on houses but as part of the contract to buy so you need to be 100% sure that your mortgage will be fine and that there are no survey/valuation issues.

As an example we sold a house to a couple who concluded missives but rented the property back from our clients for 6 months first. So Missives were concluded with a date of entry for 6 months later.

6 months later the house wasn't worth what was in the contract to the tune of around £40k.

The couple got a mortgage for the valuation but had to raise £40K from elsewhere. Basically, they sold their business and borrowed money from family. It took them about 5 months to come up with all of the cash. Legal costs were massive.

Thanks for your replies, we're going to call the estate agents tomorrow to put the idea forward