Raising money to move

ben_m_g

Before we put our house on the market, my company offered to pay a relocation package.
My work was never ideal, but things have gotten worse fast, so being tied in to a bad company for two years, seems like a big, big mistake.


Unfortunately we still need to move, with our second LO coming this year, the house seems, just too small.
Our eldest needs to be registered in schools again this year, so we want to be in the right area, asap.


I don't know how we can raise the cash for EA fees and stamp duty etc. We are saving, but with baby items to pay for, it just doesn't seem possible.

I don't see a way out, is there any options we can look into?
I know Halifax used to offer to put the stamp duty on the mortgage, but I can't see anything more recent than 2010 (and cannot see an advisor for three weeks!)

anotheruser

Not meaning to be mean but perhaps you should have thought of this prior to expanding your family?

anselld

As ever there are only two ways to balance the books - more income or less expense.

If you are not happy with the job then look for a better paid one. If that isn't going to happen then suck it up for two years and take the relocation package.

DaftyDuck

Check the detail on the relocation package. They tend to have reduced payback over time, so you'd only pay 50% after a year, and so on.

ben_m_g

anotheruser wrote: »

Not meaning to be mean but perhaps you should have thought of this prior to expanding your family?

Bit of a presumptuous comment. We are not knocked up teenagers.

Before we starting thinking about LO number 2, we looked and reviewed our budget for 6 months I even pull out every transaction and formatted it into each expense and removed all non-essential bills (including downgrading our phone, and removing TV packages.) Only after then did we work out everything cost-wise regarding moving and had everything budgeted and planned.

All bills, new travel costs, mortgage fees have been worked out and are within budget, we can afford the next house with relative ease.

Moving costs have been checked each against three suppliers (removal, EA, legal and mortgage) and the budget planned and agreed to by my company. This probably took another 6 months of planning and corporate budgeting.

Jobs change, sometime drastically and beyond control. would you have said this to someone who has just faced redundancy or similar?

ben_m_g

DaftyDuck wrote: »

Check the detail on the relocation package. They tend to have reduced payback over time, so you'd only pay 50% after a year, and so on.

Yes, thanks that is the norm. Looking at the details it is a 100% payback.

Shame but the whole department is looking to leave atm. Daily verbal warnings over stupid things (like a pie chart being slightly the wrong shade of green).

Things have changed dramatically since a new manager was appointed.