Buy or drop off

[Nokita]

Me and my partner are first time buyers and in February we found a house No chain and got a mortgage. In the end of April we request a date to move as we have 2months notice in the current flat. The estate agent told us that by 18 of June we were able to move. We gave the notice but as the time is passing we still don’t have the contract. We’ve been contacting our solicitor that says is missing some paper work from the seller solicitor. The estate agent is silent for 2 weeks already, even our mortgage advisor try to contact them but without success.
This situation and the fact that both of us are in fourlough and with very unstable jobs and our baby due in September made us having second thoughts about if we should go ahead with the purchase.
Our current landlord said we can keep rent the flat to us but he needs an answer shortly.
We don’t know what to do

Are you certain about your job security after furlough ends? If not 100% sure do you have means to pay the mortgage if one or both of your jobs are in danger?

The move date should be from your solicitor, not the agent. It is stipulated in the contract - does t look like you'll be moving on the 18th, unless everyone pulls their finger out.
Only you can decide whether to go ahead. You have to pay rent just as you have to pay mortgage. If you are in doubt whether you can afford it now you better figure it out promptly before contracts are exchanged as then you are legally bound to buy the property. You will still need to pay the solicitor for work to date if you pull out.

As @Pipandmum said you need to pay rent or a mortgage. Depends on whether the mortgage is too much to pay compared to rent. But the way things are atm with your jobs and the economy you might not get another mortgage offer later?
Push your solicitor, they are the one's doing the official work.

Just so you know.If you lose your jobs the Government do not pay towards help with your mortgage.

This is not a financial advice, just my thoughts and opinion.

Personally I would pull out from house purchase atm. You both have unstable jobs and will have baby soon (congratulations btw)! Which means you will need money/savings if you will lose jobs (unless you have extra savings besides the deposit and fees). If you pull out now before contracts are exchanged, you will only pay solicitor fees for job done so far. This will mean that you still have 10% house deposit as savings.

However, if you have your deposit, money for all fees and funds to move plus additional savings to last you at least 3 months (all bills/food/mortgage/baby stuff) if jobs are gone, then press on and buy the house. Be aware that most banks will not allow ''mortgage holidays'' in the first year (not enough equity).

It really comes down to how much you have extra in savings after buying the house and/or to job security. Also as PP said banks might be more wary about giving mortgages in the future.

Thank you everyone for your replies.

The mortgage is less 60 pounds than the rent. We done the calculations about the expenses between the two places and the difference is 30pounds on top for the new house.
We do have the deposit and deducting bits here and there like a piece of furniture for example we are left with enough to live about 5/6 months in case we are both without any income.

I really hate to live on the hedge and in my head, if we don’t go ahead we still have a bit more of savings if something major will happen.

@Nokita

You are in the good position to buy a house then It is no brainer then - press on! Email and call your solicitor daily if needs to be!

It is your solicitor who has to tell you when you can move in, not EA. It is still possible to do everything in 2 weeks (exchange contracts and complete lets's say a week after) provided things will start moving this week, however I would not give a notice to landlord until I have exchanged at least.

When I bought a house I gave notice to my landlord after the completion date (when I actually had keys to my house). It is stressful enough to go through purchase and all those documents especially if it is 1st time buying, so I didn't want to be stressed with moving out/in dates. Financially it meant I would have to pay for both houses - remaining rent and new mortgage. Mentally - I had set dates so was calm.

Good luck!