Moving into rented

[minimimo]

Our house is under offer with a Ftb who wants to move quickly and given the state of the market (we are in SW London where prices are falling) we're also keen to get things sown up ASAP.

Unfortunately we have been able to find anything for our onward move, as so little is coming on the market. We are therefore thinking we'll move into rented and then be in a better position when something does come up...but all the places for rent round here say 'long term let'... so I'm not sure how it works to move in with a view to being there not that long?! Of course, the whole thing is rather unpredictable so we could be there longer than we think but obv want the flexibility to be able to move as soon as poss...

Does anyone have any experience they could share? Thank you!!

You could ask if the landlord is willing to put in a six month break clause. This means you could give notice after four months. However, some landlords are reluctant to do this. We are in the same boat. I'm worried about applying for a mortgage from rented, especially if we haven't been there for a long time.

Most landlords want tenants to stay for as long as possible. Having the property empty is what costs them the most money. And the things they have to do between tenants (cleaning, re-advertising, contracts) is costing them money too.

Could you put all of your possessions in storage and get a furnished place? You are more likely to get a short term lease then.

Thanks @MrsPatmore yes that a good point re the mortgage... do you mean because you could end up paying both for a month or two or because being tied in could affect your ability to apply successfully?

That's a good idea @SavoyCabbage I haven't seen anything furnished come up yet but will keep an eye out

Are we best to be upfront with agents about our position or will this mean that they'll not recommend us to their vendors?

There will be plenty of places in London that are for people to stay in when they are coming to London for work for a few months. We stayed in one when we emigrated to Australia. It was called a 'serviced apartment' there.

Look at air bnb, you can find whole flats and houses on there for a few weeks or so

It's just a bit tricky because we our DD is at the primary over the road and our DS is at nursery nearby so we can't move far... we're in a more 'villagey' part of SW London so there won't be serviced appts etc and I think an air bnb would be extortionate since we don't know how long we'll be there-It could end up being six months or more. Ugh.

We are planning this too. It might be that your new property needs lots of renovation e.g. a kitchen, so it would be easier to stay in the rental for longer.

Ask on FB in case anyone has for example a parent who has gone into a care home and wants to rent out their house. You can put your stuff in storage.

Ask at an estate agent - they may be able to advise about break clauses or even landlords that are advertising long-term lets but might be open to shorter lets. You can sometimes arrange for the contract to include a clause about finding new tenants to replace you - therefore only covering any costs that the landlord incurs to change over the contract.

We actually had to do this recently for the opposite reason - our vendors wouldn't vacate in the time we needed to move. The value of the property has fallen (S. London too) and they've lost out on a competitive offer - so I think you're making a sensible and considerate decision.

We are having a similar issue, except we are buying a new build which has run on a bit longer than we were originally lead to believe. Just at point of exchange & its suddenly switched from Dec/Jan completion to possibly March. . We were going to go for a short term let where you don't need to pay deposit etc & put our stuff in storage seeing as it would only be a couple of months. We were looking at around 3k a month as we need 2 beds. Is this an option for you? We are just outside London btw, so similar pricing here as outer London, if a bit higher even.

For us its a gamble as to what works out cheaper. We can't really afford 3k a month indefinitely, so are looking at a 6 month let, where we run the risk of having to pay rent, mortgage, council tax etc on both places for maybe 3 months if it finishes beginning of March, or having to move out & find another place if the build runs on longer than 6months! Landlords willing to accept a 6-month tenancy that can be extended if necessary are very few it seems, but they are out there. Go around your local letting agents or ideally find something privately. Good luck.