Time between exchange and completion?Make Text Bigger
My grandparents are downsizing to a flat and are able to purchase a new property without selling their current family home and without needing a mortgage (they have also paid off the mortgage on their house).
My husband and I would like to buy their house and they are happy to sell it to us but things have happened faster than expected and my husband and I don’t yet have enough for a deposit. Someone mentioned to me that you can exchange, but delay completion whilst getting funds together, but it could take us around 2 years to raise enough money.
Could we delay completion for this long (with agreement from my Grandparents of course)? In the meantime would we be able to move in and pay them a fixed amount per month either to be considered as rent or as a contribution towards the deposit.
Does anyone know if this is workable?
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