Mortgages and Relocating 30 December 2014 at 10:59AM in Mortgages & endowments 3 replies 576 views

JillyC8

Hi, I have a mortgage and want to sell up and move to another part of the country. I want to avoid renting but would I be considered for a mortgage based on my current salary? Or would I have to rent being that I would have to find a new job in the new area? I am a single parent with a good amount of maintenance which has been paid without default for years and will continue to be paid for at least another eight years. I know some lenders take this into account. I've also been employed all my adult life and I have a good credit rating. I would need to move to the area in question as its too far away to travel for interviews. Any help would be greatly appreciated.

~Beanie~

If you are going to be giving up your current job when you move, without another job to go to immediately, then you won't get a mortgage.

Thrugelmir

You need to find secure employment in the new locality. This may well influence where you decide to buy as well. Renting enables you to find your feet while you settle in.

amnblog

Carts and horses Jill.


If you are leaving your current job, which you are if it is obvious you cannot commute, then the lender will want to see a new job offer in the new area as a minimum before they will lend.


This scenario is packed with complications as different lenders accept applications and release funds at different times when you are taking a new job. This is a job for a mortgage broker.


Six months renting solves the issue if you get a job during that period.