Owning your own home

Either that or trying to extend the current fixed deal

Is that a realistic option, do you think?

No idea, impossible to get an appointment with my current provider at the moment

100% no one is going to extend your current fixed rate, and no one has done this kind of thing for years.

If there are anyone with this kind of anecdote, it is only because their new fixed rate happened to closely match or was identical to their previous rate.

Our buyer has asked if we're willing to complete with them alone, before our vendor is ready, but we can stay in the house till our vendor can complete.

Anyone heard this before? EA reckon it's rare but not unheard of. We're more than likely to say no due to the risk exposure, but yeah. Weird offer.

I assume that's so they can lock in a rate?

Never heard of it but I would be asking your solicitor what the risks are ASAP.

truly on edge waiting to be able to lock in a mortgage rate from october earliest.. already looking over 4% 🙃

Posted this 12 days ago, got quotes in this morning looks at 5.11%, FML

Yeah it's got to be something like that, maybe his mortgage offer is about to expire (we "sold" a few months ago).

The most obvious risk is that our purchase falls through and we're left homeless. Fuck that.

I don't really see any upside for you other than potentially stopping this buyer pulling out but I imagine they're unlikely to do that as it's not like they can just find another house and complete in the same timeframe.

What's the sweetener for you?

If you do this you would want a proper tenancy agreement that puts some parameters about how long you can stay in the house you have just sold for and in what circumstances you can be evicted.

However, I suspect insisting to that will put your buyers off the arrangement.

What's the sweetener for you?

There isn't one.

It's not out of character tbf - he's been pretty impatient start to finish. I have a certain amount of sympathy if he's trying to save himself some money but we're so close to the completion window we've all been aiming for it'd be daft for us to agree.

There isn't one.

No thanks then thankyouverymuch.

I looked at this but the opposite way (I'd be moving early before selling), seemed like a whole load of hassle as ideally you want a rental contract in place, issues around insurance and obviously the major issue of ending up homeless.

If you have exchanged on the other deal then it may be worth risking. I wouldn't do it otherwise.

I am in this position too. Question now is commit to 5 years or gamble on 2?

I'll get a 2 year, and hope it gets better in the next 6 months rather than worse.

Alot of the rates seem to be priced for chaos rather than logic, but what do i know

I had all this with the dick head who was buying my house. He was jumping up and down and screaming he wanted to be in asap. noone else GAF.

I tried to help by offering to complete early on mine by 3 weeks but said I needed to have exchanged on my sale as well as my purchase.

Everyone else agreed to exchange and I would then move out early. All my stuff was in storage and we were due to do a Simultaneous exchange and completion on my sale and exchange on my purchase. I had an empty house.

And then the last house in the chain changed their mind. and I was stuck with an empty house for 3 weeks and a very unhappy wife and children.

In short my very firm advice is to say no. Don't even think about it. Just say no. it will potentially be a ton of aggro for you and stress even if it goes ok. If it doesn't go ok you'll possibly be skirting around the edges of a divorce (if married/partnered).

If they still want to buy the house they will have to wait.

I'll get a 2 year, and hope it gets better in the next 6 months rather than worse.

lol

agree

We've got a maximum of two years more of this clown show, I can't see any improvements in our economic situation unless there is a general election.

I'd fix for five years if you can, just to be on the safe side.

Our mortgage offer expires at the end of the year, and we've been already told the monthly payments will be 50-60% higher if we have to renew and don't complete on our purchase. That was before the latest interest rate rises and I'd be astonished if there aren't more in the next three months.

if i put almost all my savings into it I can get a 3.89% 2 year fix.. which seems.. ok i guess..

edit: scratch that, 3000 lenders fee

Our new place has a Valliant combi boiler, about 15 years old. It's got this little box underneath with wire running to it. Anyone know what it's for?

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A mate of mine did this recently, only stayed in the old house for a week or two I think. There was some bizarre arrangement where he had to pay a peppercorn rent. TBH the whole thing sounded very weird but I think it worked out for him OK in the end.

Transmitter/receiver for a remote thermostat type thing?

Looks like a receiver for a wireless Honeywell thermostat

We have one of those so that must be it. Thanks.