im thinking of moving-need some help

Euphoria1z

Hi All

Im thinking of moving down south and ive got some questions to ask.

1-Im going to put my flat up for sale, is it better to put it up for sale now or next year around march ( I hear the best time to sell is around march.)...

2-im going to sell up, quit my job and move and purchase there with money from the sale of my property and get a new job. I would like to buy straightaway rather than rent (tho i can rent for 6 months whilst im looking). Ill be applying for a job straightaway, but to get a mortgage how long will i have to be in permanent employment? is it 6 months? Can i buy a property and get a mortgage in england whilst im working in scotland? once i get the new mortgage i can then quit my job and move? (plan is to sell, but live in scotland with my parents so im still working, then buy a property in england, as im working i can get a mortgage, once ive bought i can then move and get another job?)

3- Can a mortgage broker in scotland arrange a mortgage in england or will it have to be an broker in england?

4-whats porting a mortgage? how does that work?

5-last question for the moment. my flat in scotland is freehold, property in england is leasehold? whats lease hold? do i need to know anything about this? do you pay extra in rent or ground maintenance?

Thanks all, ive never moved so i dont know how to go about it!!! but i definately want to sell up and move ( to Leicester...)

mynameisdave

2. Each lender will have different criteria, but I would say an absolute minimum of 3 months employment will be needed. The longer the better. I have never heard of a rule preventing people working in Scotland getting a mortgage in England and can't see such a rule existing.

Scorland has different rules from England and Wales in relation to property sales but not along the lines you ask - I am sure there are plenty of people that work in England but have a mortgage in Sctoland.

3. I don't see why not.

4. I believe this to be moving your mortgage from one property to another, without changing lender. I am not sure if you would need to pay any difference in slae/purchase price or if you could increase the mortgage amount - this could even vary between lender.

5. Leasehold means that you have a long term right to own and occupy the house/flat. Some can be as long as 999 years, personally my flat has 123 years of its original 125 years. Lease can be bought outright under certain conditions. You may have to pay an annual fee to the Freeholder. This will be fixed and stipulated in your lease. I have seen some topics on forums where people are paying as little as £2 or £3 a year. Unfortunately for me I have to pay £150 per year and the cost doubles every 10 years.