Relocation advice needed!

Linzyloo

Hi, I'm after some advice for my brother pls. He wants to move from Gillingham in Kent to Bristol.

He has a few problems however that are making this very difficult:

1. Both he and his wife have bad credit history.

2. His current house is in quite a state and will cost a fair amount to repair. I'd guess between 5-8k.

3. They don't have very much (if any) equity in the house.

We have offered to let them rent our buy-to-let home at the cost of the mortgage (around £500) but the area isn't great. My brother is also worried that if they start renting they'll never be in a position to buy again.

His wife suggested renting their house out and renting in Bristol so that they remain homeowners but then they'd have to fix up their house. They're not in a position to borrow any more, however myself and our mum might be able to help a bit.

They would also struggle to rent any other properties as they have 5 dogs!

So as you see he's in a bit of a mess. My mum wonders if he'd be eligible for a council property as he has relatives in Bristol and a lot of debt. They should be able to clear most of it if they sell the house but would then be unable to buy another.

If anyone has any advice on how we can help him move to Bristol to be with his family I'd be very grateful! Also pls feel free to suggest other forum topics I could post this in.

Thanks in advance :0)

lincroft1710

Linzyloo wrote: »

Hi, I'm after some advice for my brother pls. He wants to move from Gillingham in Kent to Bristol.

Why?

He has a few problems however that are making this very difficult:

1. Both he and his wife have bad credit history.

Which doesn't put them in a good position as a prospective tenant or candidate for new mortgage.

2. His current house is in quite a state and will cost a fair amount to repair. I'd guess between 5-8k.

£5K - £8K is not a lot of money to spend on repairs, it could affect the value by up to £20K, maybe more

3. They don't have very much (if any) equity in the house.

Probably they could end up in negative equity, so no money for deposit on new house.

We have offered to let them rent our buy-to-let home at the cost of the mortgage (around £500) but the area isn't great.

Beggars can't be choosers. It's the most realistic solution to the problem.

My brother is also worried that if they start renting they'll never be in a position to buy again.

He's currently not in a position to buy.

His wife suggested renting their house out and renting in Bristol so that they remain homeowners but then they'd have to fix up their house. They're not in a position to borrow any more, however myself and our mum might be able to help a bit.

Will you and your mum get your money back, will brother's lender agree to renting out, does brother realise the hassle of being a landlord?

They would also struggle to rent any other properties as they have 5 dogs!

Agreed!

So as you see he's in a bit of a mess. My mum wonders if he'd be eligible for a council property

No, he's not homeless

as he has relatives in Bristol and a lot of debt. They should be able to clear most of it if they sell the house but would then be unable to buy another.

As he may end up in negative equity, this probably won't happen


If anyone has any advice on how we can help him move to Bristol to be with his family I'd be very grateful! Also pls feel free to suggest other forum topics I could post this in.

Thanks in advance

Given his situation, it will be difficult. He should get a realistic value of his house in current condition, the cost of repairs and realistic value when repaired.