what to do;moving back to Uk from abroad

RAS

Hubbie needs to go back to England and actually find out first hand what the score is.

To put it bluntly; how hard it is to get a mortgage and how hard it is to get work; it is a cliche but he is now thinking about getting work in a recession in competition with a lot of guys from Eastern Eurpoe who will work for less than the minimum wage.

anglaisie

we wouldn't consider moving areas as missing friends is the reason for wanting to return.
The school situation = the 17 year old returned last year and has just started his second year at 6th form, he lives with his grandparents.
The 15 year old has just started her Bacc, and has another 2 years to go, but as the eldest found it so easy to get back into the system we don't have any concerns about moving the 15 year old.
The 6 year old would adapt easily, she was born here and has no idea what she is missing out on !!
We are in england for christmas, so will have a look about and see how we 'feel' about being there as it is in our hometown. Would it be cheeky to do house viewings at this stage? We have lost our sense of perspective as everything has so much space here, we need to be reminded what we would get!! we don't have a massive house here, but the ceilings are alot higher, you get alot more outside space for the outside living in the warmer months......but I don't want to be wasting agents and sellers time....what do you think?

GlynD

I'm with Ognum on this. Post #7.

There are many areas in the UK where prices are lower than others. Often dramatically so. Pleasant areas too. I'd be very much of the opinion that it would be better to use my money to buy in one of those areas on the grounds that it would eradicate the largest expense from your budget (mortgage or rent) and that would let you find your feet faster than if you were renting a property whilst using your existing capital to fund a buy-to-let property which is an added stress.

That's my opinion for what it's worth but I am a very careful man and I've done exactly the same when moving countries within the UK. I can tell you then from experience that living without rent or mortgage is much more relaxing and saves you a fortune. You're paying interest to nobody so all your income then goes to work as disposable funds or savings.

notanewuser

anglaisie wrote: »

no, that is the problem - he thinks we can just go back and pick up where we left...get a mortgage and buy a similar property. He will be a self employed builder with a part time working wife, 3 kids (17,15 and 6) no credit history for 8+ years needing to borrow about 100 k, (we will have around 150 k as deposit) ....he isn't considering how it will really work - ie; camping at his parents until we find a rental property, paying an eyewatering amount of money for rent, only having patchy work due to old contacts helping him out until he finds his own work, teenagers wanting to do and have everything. The cost of living for all those things he misses will cost a fortune (just a bottle of wine to take round friends for example) we have no idea how much a pint of guinness at a pub is nowadays.....we have a wonderful life here, but it is starting to feel a bit empty (the 17 year old is already living in england with grandparents and going to 6th form college) the 15 year old boards at a lycee (college) during the week...so, don't know whether it is empty nest or time of year or just really that it is time for a change (the thought of retiring is scarey as we have no provisions) or that we just want to be back with those we miss........crystal ball is needed but getting back into the rat race looks quite difficult.
Do you think it would be about a year before we could apply for a mortgage based on what you know about our circumstances? I need to find out as much as I can before we make a final decision. I know how much rents are, and by looking at other threads I have roughly worked out what monthly outgoings are likely to be. My husband just has it in his head that he wants to go back and buy a 'character' property and everything will be sorted within 3 months (we bought our first house in 1990!!so that was his last experience of mortgages)

Unless your part time earnings were in the order of £25k a year then you're looking at a minimum of 3 years to get a mortgage.

anglaisie

wow - 3 years books, I didn't realise. that is interesting thanks.

RAS

Plus obviously you would need to be in part-time permanent employment for them to count your income anyway; so think a year probably.

You will also struggle to rent without secure employment and with no credit history; expect to pay 6 months up front or a UK based guarantor with a good credit record.

anglaisie

thanks, that makes sense to me, and there are cheaper areas around..I need to draw up a (very large) pros and cons and 'what if' list, and present it to my husband.

anglaisie

that is a good point too, I wasn't sure on how much you pay up front....I can see the first few months/year eating drastically into our egg basket

PasturesNew

What area are you looking at? Sometimes it's possible to find a house for the same price as a flat ... but the house needs a bit of work... but your husband could sort that out.

Or are you looking at buying outright the cheapest 1-bed flat within 20 miles?

anglaisie

we are from a hampshire market town, and would be looking at a 1 or 2 bed flat in town as our initial investment and to rent it out, so we would have the rent to go towards our own mortgage if that makes sense?