I am buying a new build property, Completion is expected mid next month. Problem is, my lease doesn’t expire until 26th June, making the last payment 26th May.
The landlord is considering putting the property on the market, and as such it’s unlikely the house will be sold by 26th May. Therefore I’m at risk of having to pay 3 months rent and mortgage on the new house, which is near impossible. This will be my first owned house and I’ll have a lot of outgoings to get it set up.
I am trying to keep the option of finding a replacement tenant open, so I can try and reduce any further months rent payments. Problem is a) the landlord’s agent isn’t the most pro-active ever and b) it is easier for the landlord to just keep us paying until May and secure something else for after that. If they put it on the market now then it is in their interest to keep us paying until May.
Any advice/wisdom to be shared would be most grateful. Is there a loophole? Thank you!