Help Want to move but can't

sockmonkey1986

Hi,

I really want to move and I am fed up of where I live, The only thing is the place I want to live is really expensive.

I currently own my house outright (about 75k)

But the cheapest house in the area I want to move to is about 190k

But I cant find a way to get a mortgage, I am currently working but because It isnt in the area I want to move too, how can I get a mortgage? as when I move of course I will get a job asap But I cant prove I will, Can I?

Also I am in a little debt, even though I own My own house outright, I owe about £5000 to banks and credit cards

What shall I do???? move down and rent for a while and use the money from the sale of my house for rent and to pay of my bank/credit cards,

then after a year in a new job and debt, while renting apply for a mortgage with the left over money as a deposit say about 50k of it,

Would this work I am so lost how do people move and get a mortgage without a job in the place they are moving too???

So lost please someone tell me what to do!!

bluecelticgirl

Can you apply for jobs in that area before moving there? If not and you really want to move if it was me I would rent my house out and rent a new place where you want to live. The rent from the place you are leaving would pay the rent in the new place and hopefully help you pay off your debt also. Always helps to rent in a new area so you can suss out where is best area to live etc. You could then sell your house later when you are settled in a job and found something you wanted to buy. I have done this a few times and have actually moved countries not just within UK

sockmonkey1986

bluecelticgirl wrote: »

Can you apply for jobs in that area before moving there? If not and you really want to move if it was me I would rent my house out and rent a new place where you want to live. The rent from the place you are leaving would pay the rent in the new place and hopefully help you pay off your debt also. Always helps to rent in a new area so you can suss out where is best area to live etc. You could then sell your house later when you are settled in a job and found something you wanted to buy. I have done this a few times and have actually moved countries not just within UK

I could yes,but not a great one probably, but I hoping to go back to uni for a year to get a pgce in teaching, I am not sure rent on my place would cover rent down there,
But definatly worth a look, bit worried about getting the deposit for renting if i dont sell mine, as the bank wont lend me anything at the moment because of the debt ive built up, but i think renting will be the way forward, Thanks x

maninthestreet

sockmonkey1986 wrote: »

Hi,

I really want to move and I am fed up of where I live, The only thing is the place I want to live is really expensive.

I currently own my house outright (about 75k)

But the cheapest house in the area I want to move to is about 190k

But I cant find a way to get a mortgage, I am currently working but because It isnt in the area I want to move too, how can I get a mortgage? as when I move of course I will get a job asap But I cant prove I will, Can I?

Also I am in a little debt, even though I own My own house outright, I owe about £5000 to banks and credit cards

What shall I do???? move down and rent for a while and use the money from the sale of my house for rent and to pay of my bank/credit cards,

then after a year in a new job and debt, while renting apply for a mortgage with the left over money as a deposit say about 50k of it,

Would this work I am so lost how do people move and get a mortgage without a job in the place they are moving too???

So lost please someone tell me what to do!!

People don't normally move to a location unless their job takes them there. How far are you considering moving?

sockmonkey1986

maninthestreet wrote: »

People don't normally move to a location unless their job takes them there. How far are you considering moving?

From Leeds to Brighton, I am in a dead end job at the moment, so my job has no factor in the decision, also i am only 25

maninthestreet

sockmonkey1986 wrote: »

From Leeds to Brighton, I am in a dead end job at the moment, so my job has no factor in the decision, also i am only 25

Why Brighton?

opinions4u

maninthestreet wrote: »

Why Brighton?

Pink scene?

Personally I'd stay put and look for a better job.

Leeds is probably one of the better cities to be in as the country slowly recovers.

sockmonkey1986

opinions4u wrote: »

Pink scene?

Personally I'd stay put and look for a better job.

Leeds is probably one of the better cities to be in as the country slowly recovers.

Haha yeah something like that, I need sea, I grew up by the sea and I need it! but dont want to go back over whitby way,

I love leeds but have been here 4 and half years and I have itchy unsettled feet, I have been trying for a better job for a year and a half, I have a degree and lots of experience, but yet I am stuck in a cinema,

ViolaLass

If you don't have any rent or mortgage to pay at the moment but are £5k in debt with no savings (it seems), how would you pay a mortgage if you moved?

noodle

Sell your house. When that's done, move to Brighton and rent until you get a job, then look to buy. You'll have a great stack of cash to both pay off the debts you have, get a deposit on something new (assuming you can afford to get a mortgage for the rest) and keep you fed and clothed whilst you look for work.

Any other way, and you're trying to do lots of things at once.. sell a property, move to the other end of the country, get a job, and buy a house. Do you really want to be doing all that at once?

CloudCuckooLand

Blackpool has cheaper properties. Northumberland is nice. Another thousand plus miles of coastline to pick from...

Why pick one of the most expensive places outside London, just for the sea ?

Having £5k of debt while mortgage free does not bode well for your disposable income. I doubt you could cope with the mortgage on your own place, let alone something nearer £200k.

Sell, rent and see what job you get, if you are determined to go ahead...