Join Date: Feb 2013

Posts: 3

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My husband and I have managed to sell our home that leaves us with a 20%deposit on the size/type of house we have been looking for.

Here is the problem. We have been unable to buy a property to our liking. Wehave had three generous final offers rejected (Two have been over the homereport value).

We need to be out of our current home in a few weeks. Due to thetime constraints and the fear of losing our buyer we are considering renting for three/six months so not to rush in to a purchase.

My question is does this gap cause problems for a mortgage application due to the fact we will only berenting for a short period of time?

Thank you in advance for any advice you can give. Everyone keeps telling me the purchase part is the fun part…… It is not working out that way for us.

Fantastically Fervent MoneySaving Super Fan

 

Join Date: Jun 2009

Location: The North

Posts: 6,727

Thanked 6,433 Times in 3,304 Posts

Who told you the purchase was the fun part?

The looking part is the fun part, the purchasing process is horrible, stressful and frustrating!

I cannot think of any significant issues arising from you renting temporarily whilst you purchase, just get on the electoral list as soon as you can.