House chain mortgage offer expiry pressure

[Podlar]

Hello, I'm looking for some advice please.
I accepted an offer on my property in August from first time buyers. They are in rented atm and had originally said they were flexible as to moving. It's taken me a while to find a property but had an offer accepted last week. Now buyers are saying that their mortgage offer is due to run out in the next few weeks so are wanting me to break the chain.
I would need to find temporary accommodation while my purchase goes through which could be a possible (put my stuff into storage in the meantime). However this could affect my current fixed rate mortgage which I was hoping to port and don't want to risk losing! Any thoughts would be much appreciated. Thanks

@Podlar

normally you 3 months to port.
call your lender.

ie they close it and then reinstate

The recent mortgage rate changes will have spooked people

Your buyers are unlikely to get an extension on their mortgage offer after it expires

They are not being unreasonable to ask

Ultimately you need to do what's best for you which may be loose this buyer

I can understand your buyers position. They may not be able to afford a mortgage on the new rates. Has anyone seen their mortgage offer? I thought it was usually secure for 6 months.

How easily did you find a buyer? If you could replace them fairly easily then I’d do that rather than have the hassle of moving to rented and the potential issue of needing to take out a mortgage on a much higher rate.

I would only look into breaking the chain if you think you would struggle to find another buyer. It's an awful lot of hassle for you.

I found buyers fairly easily however with interest rates rising it might not be as easy to find a buyer if I start again in the new year. However saying that, if prices drop then I might find a cash buyer...