Mortgages Vs Renting

Dicky2K

Hi all, and Thanks in advance for any useful information.
Currently my partner and i are living in a rented house, at a cost of £500 pcm.
We are now looking to buy our first house, but it is in a completely different location..
We currently live in New Quay, West wales, But want to move to Bedfordshire (Where i originally lived - Friends and Family there).
Only have 5 Grand deposit at the moment, but are aiming for 15K

Now im not quite sure how it all works.
Are we A)

Better off staying here and saving as much as possible towards the deposit whilst still paying rent..


going for a low deposit mortage (approx 90K, with a 5K deposit is 94%LTV) but paying a higher interest rate because of low deposit, but saving rent.

or
C) - Because its a new area do i have to move and rent first to establish a job and a life there to get a mortage there or can i get a mortgage where i am and then move there?

Any info will be greatly appreciated, Merry Xmas all..

somethingcorporate

How would you pay the mortgage in a new area if you do not have a job?

Dicky2K

I've been guarenteed a job already if all else fails. But looking at agency work to be honest, it pays a lot better. - HGV driving.