Moving into Rented Accommodation

[Gumbo Robot]

I have a buyer for my house but can't find anything I want to buy so am under some pressure to move into rented so that the sale can go through.

I'm somewhat reluctant to do this as I can't help feeling there's a risk to this. I've already had more bench time than I expected & if I end up out of contract again for a month or 2 then I'm going to find it hard getting a mortgage ( I have DiP based on my current circumstances) and I could end up without a home of my own.

Anyone else been in this position?

[BrilloPad]

Do you care if you lose the buyer? At the moment there are few sellers.

[Gumbo Robot]

Do you care if you lose the buyer? At the moment there are few sellers.

Yes.

Been on the market since May. This is the first sensible offer I've had.

[MicrosoftBob]

Yes.

Been on the market since May. This is the first sensible offer I've had.

Northern Lady UK has competition

[fullyautomatix]

Where do you live ? In some dump ? Every house that has come on sale in the last couple of years has gone to offer within a week.

[Gumbo Robot]

Where do you live ? In some dump ? Every house that has come on sale in the last couple of years has gone to offer within a week.

Middle of nowhere.

[milanbenes]

most importantly, what are your skills and what is your chance of getting another contract ?

Milan

[TheLordDave]

A coworker I knew did this years ago. Sold up, moved into rented for 6 months. In that time the prices went nuts and they could no longer afford the house they had just sold.

Not that it will happen these days but sucked for them.

[MaryPoppins]

This is kind of happening to me right now.

I am completing on my sale tomorrow, finally; and am living with family whilst waiting for my purchase to go through. Only, I've now pulled out of the purchase and thus have stalled my mortgage application.

I've today had to quit my current contract for various unavoidable reasons.

Without an approved mortgage offer or contract to help facilitate one, it looks like I may have to shelve the house purchase - for now. But one thing I'm sure of is that I want the sale to go through irrespective of any of the above.

Unless you pull the plug on your sale, I'd probably just rent in your position.

[Troll]

I've today had to quit my current contract for various unavoidable reasons.

Ohhh do tell more