Please help with our situation, anxious and mentally stressed

[Mollyeyes]

Hello

We regrettably sold our flat in lovely area of west London earlier this year and now in short term rental in Hertfordshire. We went into short term rental thinking we will find a place to buy.

Having been to loads of areas our hearts belong back to where we used to live in west London and if we went back there we will only be able to afford to buy a flat there again not house.

Bad news is the owners of our rental place in Hertfordshire need to move back into their house mid Aug the very latest so we have to find another place to live.

On top of this I lost my job since but my other partner is still working full time but his salary is quite low. We also have a cat who needs outdoor space too (as well as us if we can).

We are very limited to finding a decent flat to rent that allows pets (not many allow one) based on my partner’s salary (only 900 pcm rental) now ☹️ Air B&B is very expensive

We don’t have option to move in with family or friends neither.

So stressed with our situation, sick with worry, don’t eat much or sleep well as time is ticking.

Desperately need your help please. This this what we think our options are:

Option A - keep looking for a small flat to rent based on my partners salary only that will allow a pet with a little outdoor space and pray one comes up before mid Aug.

Option B - there is a small ex-local authority one bed flat in the west London area we used to live in which is no chain. It’s not great but we could buy that fully cash (from sale of previous flat) but it needs some work, no garden or outside space however but at least we will be in nice area we like. Hopefully we can push for completion before mid Aug. We could sell it in future (within one year) when I have a job and we can then get a mortgage to buy a better and bigger flat in that same area.

Option C - look to buy a bigger flat or small house which is no chain with outdoor space in any area outside London with cash and then sell it in future and buy back in west London area. My other half needs to commute into central London five days a week.

I appreciate there are EA and solicitors costs to consider but feel we have very little choice.

Which option would you go for? Are there any other options we haven’t considered.

Desperate for your advise please. I feel I cannot make rational decisions in my state of mind at the moment.

Thank you so much

Contrary to others posters I would choose option A or B. You miss London so I think it would be insane to buy outside of London and then potentially get priced out. Flats are not selling well at the moment so you can make offers on flats over budget.

If you have cash savings, you can choose to pay 6 months rent up front and the rent will not to be necessarily limited by the income you earn. Some landlords can be more flexible with pets if you offer more rent.

There may not be enough time for your to buy a flat and complete by Aug, personally I won't rush for buy. Think about the cost of buying and selling and the stress you have to go through, I would rather wait until I find something suitable.

Oh @Izzpop I'm so sorry, In my haste to show the value of Leighton Buzzard, I forgot that that's someone's house.

@Rina66

Oh *@Izzpop* I'm so sorry, In my haste to show the value of Leighton Buzzard, I forgot that that's someone's house.

Oh no don’t worry! Its completely fine. It made me laugh seeing it posted 😆

@AIMummy

Izzpop your house looks lovely.

Izzpop your hour is 💯 😍😍😍

Option b. You clearly want to return. Don't prolong your misery. Or look at shared ownership back in London?

Get back renting in W London where you want to be ..... and then buy a flat there when you have got a job again.

Live where you enjoy. What’s happening with finding another job?

Yes, I'd say a small house rather than a flat as they will increase in value more and there;s outside space not overlooked by upstairs neighbours, better for the cat if you wanted to make it more secure / no need to consulit other leaseholders etc. The worst think about flats is service charges - esp if you are only going t be there short term, what wit hhte moving/buying costs plus those charges, you aer unlikely to make any profit on it.
Obvously you do need to like a place but if it's a short commute to London it's going to increase in value as a house, no question, even over a year or two. you can still then go to London easily for a day /weekend. If you really hate any other place, then ok, go for the rental and offer more for the cat.
Buying a flat is not likely to be completed by mid-Aug, though may be possibl if share of freehold. Also if share, then service charage is usually lower but check that obvious big repairs aer not coming up.

*thing, not think, obvs!

As someone who moved out of a neighbourhood I love (extremely reluctantly, but was in a situation/country where you can get sued if you back out of a house purchase) and then got priced out of it, my priorities would getting back on the property ladder in the area you want to live in.

Move back to where you want to be. Apparently some flats are proving hard to sell so you might be able to be cheeky with the offer.

Thank you everyone. We can’t afford to rent in that area or buy suitable flat with outdoor space in that area at the moment. I am looking for work which should be a priority but this mid Aug deadline is looming so that takes priority as need roof over our heads.
Even if I get work I will have to have a few months payslips to proof my earnings for mortgage on a forever home.

If I were you, I would be looking urgently for a house, wherever you can afford what you want within affordable commute for your DH. Don't forget to factor that in, especially as you say his salary is quite low.

Why did you sell in the first place?

Is it a ground floor flat at all? We had a cat in a ground floor flat. Worked ok, put a cat flap in one of the windows and changed it back when we moved.

Can you rent something much cheap/smaller to buy more time - I think it would be a real rush to find something 'perfect' in such a short time frame, and adding unnecessary stress. For example, a one bed flat/studio just potentially for six months whilst you look for somewhere to buy? Cheaper than an Air BnB situation but doesn't lock you in/come with the added costs of buying somewhere that may well not be suitable longer term?

I'd go with B. I think London is where your heart is and where you want to be and location is important. Yes, it might not be the best flat in the world but if it's what you can afford, it's what you can afford.

To me it sounds like you'd be happier there than in some random other place with a garden.

I don’t know the areas too well but what about something like this? Friars Avenue, Putney
www.rightmove.co.uk/property/86247889
You could gain a bit by doing it up?

Did your landlords give you the full 6 months notice they are supposed to the the moment OP? I agree with pp, try to buy a small house with cash and sell in a couple of years when you are back on your feet job wise. Good luck, I can imagine how stressful this all is.

Thank you everyone.

Like to give you an update. We managed to secure a flat to rent with 6 months break clause in the area we like, can rent for longer if needed. This should give us a breather and give me time to focus on finding a job and then take it from there.

Thank you so much everyone for your support and advice.

@Mollyeyes that's great. Although I was secretly hoping you would fall in love with Izzypop's house, buy it, realise you loved living in LB, pop out a couple of kids and live happily ever after.

Just in case things full through-

Even though your current rental contract tells you it's one months notice, they legally had to give you 6 months notice before 1st June, 4 months notice after 1st June. Because of Covid, that one months notice in your contract means nothing.

At the point the 4 or 6 months is up, they then have the power to go to court to evict you. This will take months at least, possibly over a year.

In order to remove you from the house, they need an eviction order.

I hope it doesn't come to it, as its horrible for everyone involved, but just wanted to reassure you that you wouldn't be homeless in August evern if the new rental falls through

@KnobJockey

Just in case things full through-

Even though your current rental contract tells you it's one months notice, they legally had to give you 6 months notice before 1st June, 4 months notice after 1st June. Because of Covid, that one months notice in your contract means nothing.

At the point the 4 or 6 months is up, they then have the power to go to court to evict you. This will take months at least, possibly over a year.

In order to remove you from the house, they need an eviction order.

I hope it doesn't come to it, as its horrible for everyone involved, but just wanted to reassure you that you wouldn't be homeless in August evern if the new rental falls through

Perhaps I've read it wrong but is she not in an AirBnB/holiday let type short term rental? The eviction rules wouldn't apply to that surely?

Most importantly, is there a safe outside area for the cat in this new flat?