Completion dates and handing in rental notice

[katzensocken]

Hi everyone.

So we're about six weeks into buying a house. Mortgage approved, valuation and searches done etc. Most of the activity took place within the first two or three weeks. We have the contract pack, fixtures and fittings form. The structural survey is booked for next week, though we instructed it a couple of weeks ago and paid for everything with the solicitor.

We are first time buyers, currently in rented so are flexible to a point, but there are some parameters to go by. Based on these, we suggested a completion date of mid-May. This is because we need to give two months' notice to leave our flat at the end of the current contract. There is an option to go onto a rolling contract, but we will need to give notice to switch to rolling as well. The most important thing is that our mortgage offer expires at the end of June.

We have made these dates clear a few times - the vendors know, as do the solicitors and the estate agent. We sent them via email so everyone has them on file too. Last week we got a call from the agent to confirm that the vendors are happy moving into rented to meet our proposed completion date. The vendors also signed the forms saying the purchase is not dependent on a joint completion date and they have no requirements of their own for completion. So great, we thought.

More recently we spoke to vendor (we have met them in person and swapped contact details in case solicitors are being slow with passing on info... they have been slow already and we needed to clarify some things with the vendors and arrange second viewings etc). Vendor tells us that 'yes, still looking for a house to buy but as a last resort we will consider going into rented.' This is fine but not quite what the agent told us. We're not sure at what point it applies as a 'last resort.' We already know they probably won't find a house and complete themselves in time for May, even if it's chain free. And our two months' notice (to coincide with end of current contract) will need to be given in two weeks from now.

I know we can't officially agree a completion date until signing contracts/exchange, so I'm not sure what to do at the moment. We could hand in our notice as planned, with the proposed mid-May completion in mind. But that would be going on good faith. Bearing in mind, it leaves us with two months for everything to be finished and for the vendors to vacate the house.

Otherwise we could leave it another month to hand in our notice, stay in rented a month or so longer, but we'd be losing money on extra rent if we got the stated completion date. I think that seems like the sensible option though, maybe?

Apologies if this barely made sense! I'm just trying to work out - at what point should the vendors' 'last resort' renting happen? If you were the vendor, how long would you leave it? I just want a bit of certainty really - as I said, mortgage expires at the end of June so we can't push it much later.

Does the vendor know when your mortgage offer expires?

Yep, we confirmed this personally with them.

Don't do anything about your rental until you have exchanged. Push for that to happen ASAP to make your vendor realise you're serious about mid-may completion. It doesn't sound like they're at all serious about going into rental at the moment.

There is an option to go onto a rolling contract, but we will need to give notice to switch to rolling as well.

Once your fixed term contract runs out you automatically move on to a rolling contract. It's not necessary to give notice.

So just to be clear, if you're on an assured short hold tenancy with a fixed term, you can move out on the last day of the term with no notice. That's what a fixed term is. If you wish to stay, you just continue paying the rent and living there, then you have a deemed statutory periodic tenancy which renews every time you pay your rent.
It's the landlord who has to give two months notice, not you.
Even if you are in a statuary periodic, if you give notice, you must pay the rent on the next due date and vacate the property when that runs out. So usually between 1 and 2 months notice needed.
Many landlords will tell you otherwise, but I've taken advantage of that twice and had it confirmed by a property solicitor.

You need to get informed on your legal rental rights. Crooked landlords/agents prey on those who don't know.

Options in england, regardless of what tenancy agreement says:

• do nothing and leave at end of tenancy, no notice required. Be out before midnight.
• do nothing and wait for fixed term to expire. You then give one months written notice to expire on the rent payment day. That is written, posted with proof of posting - no kiddy comms.

Do nothing until exchange ( not signing, exchange - your solicitor is paid to explain) which should be at least two weeks before completion unless you want to make things extra difficult.

And if your vendor actually goes into rented, a tenner to a charity of your choice. This is almost always a lie.

Sit tight.

Thanks everyone for the replies and advice. I am definitely taking their intention to rent with a pinch of salt until I can be more sure - they do have pets, so I appreciate it is much more difficult to find a rental that accepts them. It isn't my own issue of course but I'm thinking it may be affecting their decision, especially if they have to find someone to house the pets or kennel them for the time being.

The way I see it, they could find the perfect house tomorrow but they'd have to choose something chain free and fast track it all forward to get their own completion before our proposed completion date. So they could start their own purchase very soon but they'd still have to go into rented if they wanted to keep us as buyers. As I said above, they already stated in the contract pack that our purchase is not contingent on an onward purchase, and not contingent on a same day completion for all parties. So given that logic, they don't have much choice but to rent unless they want to lose the sale, as otherwise we risk our mortgage offer expiring.

I think we just want to know either way, because there are second choice houses we can look at (chain free) if they can't move ahead in time for mid-May.

Regarding the notice period - thank you for all the info and I will bear this in mind before making any big decisions. My next step will be to call my solicitor on Tuesday and state my concerns, get their advice and try and push everything forward a bit more. Hopefully we will achieve exchange sooner rather than later.

As a side note, weirdly, the vendor's estate agent called us last week asking if we'd instructed the survey yet, which we had - they seemed to be rushing us! So it's clear they want their commission. I'm hoping they will advise the vendor to pick up their feet.