Hi all
I need some advice on my situation please. Me and my husband are currently renting and we thought in the future we could buy the house since we like it so much! Our plan was to buy in 3 years time as our house is on oil central heating and we want to save as much as possible for the deposit and to put a heat pump due to the geopolitical situation and fuel prices.
This week, my landlord has contacted us and said he would like to sell us the house ( he was not aware we thought of proposing to buy the house ) We had a brief chat and he said he was in no rush. After 2 days he asked us when is the earliest we could buy the house since he also wants to buy another house with his partner and if he could send several estate agents to value the house.
We said that we feel comfortable to apply for a mortgage within a year, but my point of view is now if he wants to valuate the house now it means he wants to put it in the market now?
We currently have barely any savings, however we are in a much better financial situation and we can save between 500 to 1k a month from this month and from January 2027 up to 1800 per month. Our goal was to buy only when we had money for the deposit and 12 months savings but he seems in a rush and we had such bad experience in renting ( bad neighbours) that we really want to settle in here.
When should we speak with a mortgage advisor? Should we speak now or only when we saved for the deposit?
Honestly, I am unsure of what to do, if we should stay and pray that he waits or if we should start looking for another house to rent as we are scared if we wait and have to move in a rush we will end up in an area that we will not enjoy.
Thank you for your time