remortgage advice pls

bedlington1959

My home is up for sale in south wales but the market is slow we both have job offers in the midlands were we would like to move back to our roots we have a £26000 mortgage and a property valued at £115000 would we be better with a remortgage or as my wife as not had a mortgage before would it be better to have a mortgage in her name if we remortgaged and rented the property out in south wales we would have enough in the remortgage if accepted to pay for the property in the midlands please any help or advice appreciated.

Mrs_Bumble

Woah!

The job offers that you have in the midlands will they mean that you will be in a probationery period?

How much would you need to purchase the property in the midlands?

How much rent could be realised on the property in Wales?

Who is your existing lender?

Just to be sure the existing mortgage is this just in your sole name?

What is/will be your annual income?

When are you supposed to take up the job offers?

Do you have existing credit committments, loans credit cards etc?

Any credit history problems?

RufusA

My personal opinion is if you are just moving / returning to a new area, is to rent somewhere for a minimum of six months.

It gives you breathing space, time to sell your old property (at a realistic price), and time to make certain you like the jobs / area.

Rufus.