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Do we get a say in the completion/exchange date?

5 replies

FluffyDucky · 13/06/2014 21:15

Hi all, we are buying or first home and hoping we will get in soon! When it comes to the completion and exchange, do we get a day in the dates?
We are currently renting and don't want to end up in a situation where we have to pay a another months rent and the first mortgage payment!

OP posts:
LadyGardenersQuestionTime · 13/06/2014 21:19

Yes, but you will have to negotiate with the people you are buying from. Let everyone know ASAP what date you want.

specialsubject · 13/06/2014 22:21

yes, of course. Tell your solicitor ASAP. Don't give notice until you have exchange but keep your landlord posted of what is going on.

with a rental, make your life easier and have an overlap if you can. Avoiding Fridays for completion makes things cheaper but obviously not everyone can do that.

MissMysticFalls · 14/06/2014 07:29

Yes - we're in a similar situation - the exchange date is less of a problem, it's completion if they want only a couple of weeks between. You won't want to give formal notice to your landlord until you actually exchange in case it gets delayed but if the gap is less than a month you're paying rent and mortgage at the same time.

However, we've decided that we want a decent overlap so we can do any repairs/decorating (woodworm treatment!) and get the house organised before we move in as we have small people to consider, so we've told our solicitor that we're ok with the exchange date and completion date.

RelocatorRelocator · 14/06/2014 12:23

Yes tell the solicitor how much time you want between exchange and completion - think about whether a small overlap to allow you to clean/paint the new place would be helpful to you.

Obv check your own details but usually rent is paid in advance and mortgage paid at the end of the month which is a nice bonus as you effectively get a month off Smile

Madmog · 15/06/2014 18:03

In theory you should get a say on the completion date. Our purchase has been delayed, possibly been off and then was suddenly on but completion had to be by 25 June before a mortgage offer in chain ran out (suspect it was our buyers and know she is taking a big mortgage so didn't want a new offer to be subject to new regulations). 25 June really doesn't suit us as we're meant to be away now and it's not the best day for my husband to be off, but after all the problems we just needed to know one way or the other if we were moving.

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