Dilemma re renting/buying-need advice

[Hismumhermum]

We are about to buy a house and our 6 month rental ends soon. We have all agreed to a move date (supposedly) which would work out great for us, a week before our tenancy ends.

BUT this of course could change, I am guessing various legal things could affect timings.

My problem is in giving notice for our rental. If I give a month's notice shortly and we move on the agreed date-perfect. However if something then goes wrong I will have to potentially move out with all our stuff for an unknown period. But if I don't give notice I could end up having to pay for an extra month-probably at least £800.

So in summary-I really really want to give notice and assume all goes well with the purchase and I don't have to pay for an extra month. But if something goes wrong-where do we live and what do we do with all of our stuff in the meantime?

I am going to have to pay the extra aren't I?

I fear so. It is always best not to give your notice until you've exchanged contracts, otherwise you risk exactly the scenario you mention.

if you have to leave your rental before you can move into your new house, then you'll need two moves, storage and a holiday cottage. Big pain and expense, and it won't take longer to cost more than the rental would.

hold fire until exchange. Keep chasing the purchase.

Rats! But I know you're right.

Do you have to give notice on a particular day (i.e. 30th?) or can you do it on any date?

The ideal scenario is that you agree with the vendor to have at least a 1 month period between exchange and completion allowing you to exchange, and give your notice with an element of certainty knowing.
Although you don't want to spend an extra £800, if you have to move out with nowhere to go, and pay for storage, you're going to be spending a large chunk of that anyway.

Having an overlap between getting the keys for the new house and having to give up the rental period means you don't have the pressure of moving out / in to a new property all in the same day. You can take your time moving into the new house, maybe have a week or so to do emergency decoration. We had 2 weeks overlap I think, enabled us to get the whole house re-carpeted / flooring down before we moved in.

I agree, an overlap is fine-just don't want it to be a whole month! The prob is our current six months ends oct 18th. Proposed date of move is oct 10th. But before then we have to specify if our tenancy is ending or if we are going to go month by month. I am assuming our anniversary date will therefore remain the 18th? In which case I would have to hope there WAS a delay in the purchase! Am driving myself nuts-was thinking of discussing it with rental agency but presume they will not be particularly keen to bend over backwards for us!

You give notice of a month minimum to expire on the day the rent is paid. That continues if you go onto a rolling tenancy. So you have until Sept 17th to give notice. Any chance of exchange before then?

speak to the person with whom you have the contract. The agency won't care or make any effort beyond minimum.

I think the landlord lives overseas so can only deal with agency unfortunately. Have had a letter from them regarding our intentions, am trying to stall replying to them but don't know if we will know about exchange before sep 18th (we moved in on a 19th)!!

All I know about top of chain is that they don't need a mortgage and will prob move in with family, but they have only very recently put their offer in...

please don't stall. Just tell them how it is.

But with your second paragraph - tell them that you would like to go onto a rolling tenancy. The top of the chain needs a survey and searches, and that is NOT happening by the 17th.

Thanks for your help, will speak to agency.

I would recommend you accept you'll need another month I.e. Give notice after you've exchanged contracts. Things can still go wrong but much less likely. We exchanged in July and completed on August 20th - our notice day is the 15th so we thought we'd have until Sept 15th - lovely long overlap. Instead we discovered asbestos in all the walls and ceiling coatings, decided to get it removed and are now moving out of rental later to allow for the work to be done and get it repainted, etc.

Our landlady was v flexible and was prepared for us to extend by half a calendar month if it would help. Depends on the relationship you have.

We would have been stuffed if we'd given notice after exchanging as the plasterers would have just finished the day before we moved...into a newly plastered and unpainted house with no lights fitted or radiators on the walls...

Hopefully your deposit will cover the extra rent?

also be careful of 'will probably move in with family' - heard that one before! If they find a place they like they may start stalling you.

been there...

We were in a similar (or maybe worse) position as we had a 2 month notice period & only 2 week gap between exchange & completion. Yet we waited until exchange & then gave our notice. Requested the agent & landlord to let the property out sooner & release us from contract sooner. All parties worked towards it & now we have a 1 month notice & just 1 week of empty house before it gets taken. Win win for everyone.

We were extra nice to everyone & agreed to loads of viewings at short notice & also made the house look very nice - this really helped! Saved a month's rent so worth the hassle!

Just saw replies, thanks everyone. Got myself in a state but when I rang and told the rental agency they were actually really helpful. Have definitely not given notice and will wait for exchange (and things to go wrong eg the moving in with family people!).

I was just trying to save that extra bit of money (cos of all the extra costs we have encountered along the way) but have now come to the conclusion it's the least of my worries!