Own property, no mortgage, low income - how to fund move?

LandyAndy

If the property really needs as comprehensive a refurbishment/update as your posts imply then you would be far better to let the new owner do that to their standards and tastes. No buyer wants to view a property and think 'Well it's all new but it's all horrible and I'm going to rip it out'. No seller wants to hear 'The time and effort you've put in has been wasted because we don't like what you've done'.

Clear out the carp, sell, rent, buy.

mlz1413

MildredTalbot wrote: »

.
Steep rates - I'm sure somebody will do the APR - but for the benefit to my lifestyle I'm certainly not dismissing it out of hand ...

Sorry Mildred but I have to say this, you are prepared to pay high interest rates on £180k to buy somewhere else to live so you can slowly clear your old house of antiques and furniture BUT you won't sell the said antiques and furniture at country house and contents sales because they can be ruthless - this makes no sense.

My problem with your situation is that you feel you need to not live in your exsiting home to be able to clear it out. Which suggests you are not mental ready to part with your things and so your planned 1 year could easily turn into 2 or 3 years.

Why not re-arrange your current home, put some large pieces of furniture that you will not be able to move to a new home up for sale or place with an antiques dealer, then pay some strong men to come and clear 2 rooms and turn them into a living room and a bedroom for you - ie new clear of clutter rooms so that you can see what moving would allow you to achieve.

Then clear the other rooms, preferable one room at a time but maybe by type of item, ie all the pictures then other art then chairs etc etc.
This way you don't need a loan and you should be added to savings with your proceeds of sale.
If it takes a year all the better, if it takes 18 months then no extra money owed for borrowings.

bdl1brick

I've found the solution!

http://www.bbc.co.uk/showsandtours/beonashow/cash_attic.shtml

teabelly

MildredTalbot wrote: »

Unfortunately all this comes back to the problem outlined in post 1 and elaborated later - I can't get any sort of mortgage because my income is too low.

I can't use the existing house as a letting "business" because of the state it's in, and the rental wouldn't cover the loan interest anyway, and the type of property to which I wish to move would not generate enough rent with me there as live-in landlord to cover it either.

That's if one can even find a BTL or LTB mortgage provider .

Looks like you're scuppered and you'll just have to do the clear, sell, buy another house like everyone else then. If you don't have a good credit rating and have a low income then you may struggle to rent anyway. If you can't manage to clear all the rooms then target the most important ones and leave the rest. Do you have a garage? If not, is there space to build a double garage? You can get wooden kits for a few grand. All the excess stuff could go in there so you could at least have the house looking clearer and you will have added value with a double garage to boot.

MildredTalbot

mlz1413 wrote: »

...
Why not re-arrange your current home, ...clear 2 rooms and turn them into a living room and a bedroom ... so that you can see what moving would allow you to achieve.

Inspired! Thinking outside the box (well the moving crate anyway!)

mlz1413

bdl1brick wrote: »

I've found the solution!

http://www.bbc.co.uk/showsandtours/beonashow/cash_attic.shtml

This is a good idea, fortune and fame - well 15 mins anyway!