Problem to complete house sale, help!

[cris71 10]

We have agreed the sale of our house and were hoping to complete in mid August. Our buyers have been been great all along, and things were moving as they should for a quick completion. Unfortunately, our buyers' mortgage lenders have been rubbish and they have had no mortgage offer yet. Things were getting messier and messier and they decided to reapply for their mortgage, which means things will be delayed for a few weeks.

 

We are struggling financially, and this delay in completion comes as a shock. I thought perhaps we could rent our house out to them until their money comes through. Our buyers have said they would be happy to do this, but we are not sure what the legal implications are for us. Can any of you offer advice?

[margarete 10]

You need to ask your solicitor about this, surely.

[**Topgun** 10]

Maybe they can't afford to have a mortgage, so would it be a good idea to rent your house to them if they couldn't afford to pay you for it.

 

On the other hand there might be just a simple explanation like their mortgage provider has changed the criteria, making it harder to get a mortgage.

[HarrietStar 10]

It is taking a lot longer to get mortgage approvals these days, you have to ask yourself if you're willing to wait to complete the sale, or if you want to give up on your buyers and risk putting it back on the market