Help me to decide please what i should do going insane

des123

Can someone please advise me as im going insane and dont know what do. Im empoyed by a local council and currently on full time employment with a stable job . i earn a salary of 28000 per annum.

i have been in this job for 5 years now but do a lot of travelling to get to work each day and pay about 3000 pound a year out of this wages just travelling .

now our two bedroom house was on the market last year and it did not sell. we have to realy sell this year . actually we have to sell this year to get are preffered catchement school for our dauhgter and my wife is also pregnant so need a bigger space and biiger house with a higher mortgage or borrowing .

we have decided to knock another £5000 of the price we put the house last year hoping to get a quick sale . so house goes on the market in february in hope of selling quick.

now the problem and question is i have come across a job nearer to home which i really like and the empoyers have provionally made a job offer . its on hold as i dont know what to do ??. its very similar in the line of work but the salary is lower and is at £22000 per annum school term time . it although says it 28000 full time equilant and is also council manged so will be able to transfer continous employment .

if i was to take this job ill start off with £22000 per annum. i wont be on £28000 which im on now and will lose some money when i go for the mortgage application

can someone please tell me if im making a mistake applying for this job at this stage . if i get this job will i be unnsuccessful getting a mortgage to buy this new house when we sell as im at this new job . is there any way i can get a mortgage agreed in principal before i go for this new job ? .

i just love this job so much and was willing to sacrifice the higher salary but worried that if i go for this new job i will not get the morgage as it would be under 6 months employment though its the same line of work. the new job wants me in post by april latest.

Do you think i should wait till i sell the house and ignore going for this job and stick with my current job or is there any way around this please. Any advise will be really helpfull please and many thanks

beecher2

Is £22,000 enough to get the size of mortgage you need?

des123

dont know probably not

beecher2

des123 wrote: »

dont know probably yeah

You need to find out for definite as you intend to increase your lending while decreasing your salary. Go and see a mortgage adviser and go through the sums. You won't have to wait 6 months to get your mortgage, but you will have to make sure the salary multiples and deposit stack up.

beecher2

If probably not, then I don't really understand what advice you're asking for.

des123

no in really dont know . im not sure here . im wondering if i can get my my mortgage agreed in principal on applicationgo for this other job before i with my current salary.am i able to this.

beecher2

des123 wrote: »

no in really dont know . im not sure here . im wondering if i can get my my mortgage agreed in principal on applicationgo for this other job before i with my current salary.am i able to this.

I think you are asking if you can get a mortgage agreed now, before you go for the other job. I'm afraid not as a mortgage is principle is not a guarantee of a mortgage, and further checks would be made. What you want might not be obtainable so it might be time for a reality check.

Oneday77

Taking the Mortgage aside for a moment.
Assuming no pension payments of student loan. Then the new salary of £22,000 will result in you taking home £4080 les per year.
So saving approx £3000 a year in travel costs. Is it worth losing £1000 extra to spend less time travelling and spend time with your family?

As for the mortgage, if you get an Agreement in Principle and then have to produce latest payslips etc you could be rumbled if this all needs confirmed after the job move. Not to mention you don't know when your house will sell.

Annisele

How much do you think you'd need to borrow to buy the bigger house that you want? And how much deposit will you have (assuming you sell your house for your "quick sale") price?

des123

im dyslexic mate thats why i cant spell and im not shame to admit it . i dont sit on a table and do paperwork. i physically work hard . If you dont have a clue clue what councils really do; they dont just do admin work. Anyway your not here to judge my spelling magiccats or how severe my dylexia is . yes i probably cant spell. At least im working at a job mate . hmmm why dont you just be the spell checker for the forum as you dont know how to help people like me who have not a clue about mortgages . thats a start for you for 2012 as a job for you since you havent a clue than look at people spelling mistakes and jusge what they earn .

des123

hi

Thanks for the reply . the reason i want to move closer to home is to spend some more time with my family and you are correct ill be saving money because of less travel

you say that i might be rumbled if this all needs confirmed after the job move - do you mean proving my wages with the current salary ? what does this mean please. do you the think its not worth it as i dont know when the house will sell or anything. i thought that i could get a mortgage agreed in principal for a year or someting with my current salary with the move . it might be probably not wise to move .

yes the borrowing will be less if i go down in salary.