Relocate or Redundancy

SusanShaw

Hi,
I'm really looking for some advice as I'm just going around in circles, unable to make a decision.

I have two options. Move with the job 50 miles away or take redundancy.

I have a house with my job, I get paid a fair wage, good pension, good potential for overtime. I've had my job for 14 years. If we move I will be taking my son out of primary school, taking us away from friends and family. It will be the same job. I don't really like my job. It isn't want I want to be doing for the rest of my life. If we move and I hate it, we would be stuck. But isn't that what parents do for their children? I'd be earning, we'd have a house, schools are okay? But somedays I can't face work. However, I could end up loving it there.

If I take redundancy I could potentially get around £40k. I would have to find another job though. Have to find a house, a mortgage, if they would give us one (struggling at the moment). I'm thinking of retraining as a driving instructor or finding another job, both of which scare me a lot! If we don't have the income we're used to I risk our security etc. But perhaps I will be happier? We will remain close to friends and family.

I don't know what is the lesser risk. What would you do?
thanks

Scorpio33

If your job is moving, what advantage would it give for your employer to keep hold of your house? I would ask them if you could buy the house from them and stay where you are, using the redundancy money to look for another job.


(a) You don't really enjoy your job
(b) Your family & friends are in your current location
(c) Your son is settled at school in your current location.


The only reason I would move is if you would find it impossible to get any other job where you are - which is highly doubtful.

mgdavid

Scorpio33 wrote: »

If your job is moving, what advantage would it give for your employer to keep hold of your house? I would ask them if you could buy the house from them and stay where you are, using the redundancy money to look for another job.

(a) You don't really enjoy your job
(b) Your family & friends are in your current location
(c) Your son is settled at school in your current location.

The only reason I would move is if you would find it impossible to get any other job where you are - which is highly doubtful.

If they use the redundancy money to look for another job, then what will they use for deposit, taxes and legal fees?
And before they get that far, I can't see them being eligible for a mortgage unless they are economical with the truth on the application, as they know they are about to lose the steady income on which the offer will be made.