Relocation

Jambo5

Quick one! Going through Mortgage process myself at moment but still considering buying at current location.
1. Because me and the wife love the area
2. She is currently working on permanent contract and we could get a bigger house with her wage on app. (If we went home she would have to give up her job leaving in on my wage 27k)
3. My CR is not the best but hers is gleaming. Though this might help us.
As said above they are the reasons we may stay but currently looking back home 350 mile away. Send her home, I will still serve the Queen.

Okay, here we go. Say we buy here. Pay into mortgage for 5 years then decide we want to go home, how do we do it?
From what I understand we would need to have jobs lined up at home and have some many months of pay slips before gaining new mortgage!?! I see alot of families relocate but how does it work? Either they are rich or do they stop with their families untill they have enough pay slips etc. I might have this all wrong could some one please tell me how this works. Alot of people seem to do this, do they live of profit of their homes? Etc etc

The summary, we want to buy and possibly stay together. I want out Army so next 2 yeats or so. I basically can't see how we would get back(if we ever wanted to) home feom my understanding.

Thanks in advance

questionss

A lot sell then rent in the new area for 6months
Some move/relocate with the same company
Some commute to a new job from the old house for a bit.
I'm sure there are other options too

Jambo5

Thanks. Just wondered. I also wonder has it always been this difficult to get a foot hold on the ladder! Haha. We did think about renting until she found a job. Just seemed silly abit as we are not big earners and maybe throwing money away renting.

Trying_to_be_good

Jambo

Some things to think about for buying your first home whilst in the Army/about to leave:
SFA charges are very cheap - save your deposit, whether you're going to want to rent or buy, whilst you're in SFA
Contact the JSHAO and look through their guidance on your options, and more things to consider about what option might be right for your family (https://www.gov.uk/housing-for-service-personnel-and-families)
You're used to a regular wage - any mortgage lender is going to want you on a regular wage/proved self-employment income, so you either need to get your mortgage and buy whilst you're still in, or you'll need to get through any probation period and hopefully be on a permanent contract when you've left.
If you can sort out/wait out the issues on your credit rating, you're more likely to get a good mortgage.

Hope some of that helps - good luck with whichever way you choose to go - renting gives much more freedom for future moves, so does have advantages.