Pulling out just before exchange

[Randallthecat]

I have another thread running asking about lpg gas on a new metered estate.
The house is great but the thought of my bills being astronomical (on top of an increased mortgage) is giving us a bad feeling.
When we offered on this house we were told LPG gas was just the same as mains gas, marginally more expensive, no supply issues etc.
Now our solicitor has sent us an info sheet where basically we’re stuck to one supplier and our concern is that the fuel price will rise and we will be effectively be a captive audience, at the whim of the supplier.
So, two weeks before exchange we are considering pulling out. Naturally we don’t want to upset our buyer but equally in the light of this new information this house isn’t feeling as ‘right’ as it did and not wanting to upset our buyer isn’t a reason to buy a house that’s not right.
Anyone pulled out this close to exchange?

If you haven’t exchanged yet you are not legally committed. Buying a house is a huge commitment, you have to be entirely happy with your decision. So yes, I would pull out. Much better to do it now than the day before exchange….

Why would you be stuck with one supplier?

I have LPG, live rurally but have a choice of suppliers.

You have to feel comfortable with your decision.

It a communal metered estate. There’s one tank which supplies all residents. It’s supplied by Flogas and unless all residents agree and are out of their contract (so two years minimum from moving in) the supplier can’t be changed.

We wouldn’t have our own tank.

If something like this makes the house seem not quite right
Then it really isn’t for you irrespective of this issue

Hi op. I was following your other thread as I would be worried too. However, when you say new estate, do you mean brand new housing with excellent insulation and really economical eco white goods? If so, it might be that the house is cheaper to run and mitigate your concerns about lpg cost?

How much money have you spent to date on this house purchase and, with increasing house prices, would you end up spending more on another house anyway? Maybe try and see the lpg issue within a much wider context.

It’s good that you don’t have your own tank in many ways as that comes with its own expenses.

Well the thought of my bills being 50% more expensive than they already are and no price cap/captive market going forward is giving me second thoughts. The mortgage is more expensive- which we can afford and we have some leeway in terms of increased bills but not if it rockets.
We’d never have offered on a property like this if we’d known it was only one supplier. It’s only when our solicitor has sent us the info sheet we realised it was only one supplier.

@MeanMrMustardSeed yes totally new build and yes, with top spec eco measures all round. We have spent a fair whack so far so would lose a fair amount.

If you trust the developer enough to purchase
And eco credentials of flat are genuine
Then I’d trust to proceed personally

[quote Randallthecat]@MeanMrMustardSeed yes totally new build and yes, with top spec eco measures all round. We have spent a fair whack so far so would lose a fair amount.[/quote]
IME this means it will be insanely overinsulated and the most you need heating is 20 mins if it's below zero.

Have you asked to see a heating bill?

Then unless there were other issues and this is the one that tips the balance, I’d probably go with it. Tough call though as I understand your concerns.

Hi OP, I just wanted to say we live on a new estate with this kind of heating. One large tank that is filled up as and when the gas company is notified. As other posters have said, our house is extremely well insulated so even when it's feeling chilly half an hour with the heating on is enough to warm it back up. We pay our bill quarterly but I believe you can set up a monthly direct debit so that you don't end up with the bigger bills in winter. The biggest bill we've had was around £300 for a quarter.

@DaisyNGO no heating bill is available (or idea of price, either) from the developer. The developer seems ok but pretty hard nosed (aren’t they all)

@GoodVibesOnlyPlease thank you - we are having such a wobble about this.

We are mains gas but in a new build built in 2020 and as a pp says we barely use the heating. I'm currently drinking a brew in bed with the windows open and it's 7° outside, was 22° inside when I woke up, no heating.

I was paying £43 dual fuel (until my supplier went bust )

As it's bought in bulk it may actually be cheaper.

[quote Randallthecat]@DaisyNGO no heating bill is available (or idea of price, either) from the developer. The developer seems ok but pretty hard nosed (aren’t they all)[/quote]
Sorry, me being thick

Going to see flats today so stressed out!

I'd honestly be thinking it's okay, modern insulation standards are quite full on.

If having gas became untenable because of cosy then all families on the state would be in the same position... So supplier would change or you'd have to stop using gas anyway.

Will you be one of the first to move on, or are there people already there?

That’d make the difference for me. I worked for a while with an LPG supplier. They make a decent amount of money from metered estates because they’re a captive audience. They only need to offer a really good deal to one person, and if they take it, the rest of the estate is stuck with that supplier. If you’ve got a decent chance of being first out of contract and getting good deals, it can be very worthwhile. If not, it depends a lot on your gas usage habits. We should all be trying to use heating less, and hopefully a new house would have an excellent EPC rating and not lose much heat, but it works better for some types of people than others.

I know people from my time there that live on metered estates themselves and wouldn’t change it (although may be on staff rates). I know people who don’t love it.

Generally; though, even normal gas prices are high and unstable right now. Moving house is going to be a bit of a risk, because of that.

So I suppose the question is, could you get a house on mains gas that is as energy efficient as the one on LPG? Would the cost be the same, or are you saving on the LPG one?

[quote Randallthecat]@GoodVibesOnlyPlease thank you - we are having such a wobble about this.[/quote]
How many will share?

* They only need to offer a really good deal to one person, and if they take it, the rest of the estate is stuck with that supplier*

Who is this “one person”

@lentilsforever it’s a development of about 40 houses.
There will be five people in our house.

@TakeYourFinalPosition we’d be one of the last to move on. Our gas usage has been high over the last two years because we are in a poorly insulated house, with hard floors and three people have largely worked from home.
Our new house will be better insulated and have mostly carpeted floors. And now, three people are out during the day and the other two are back to work half of the week. Each room has its own thermostat allowing temperature control of every room. So yes, much more efficient.

Thanks all for talking me down from a wobble. I feel a little more settled about this now, we probably hadn’t thought about the bigger picture in terms of better insulation etc.