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Moving abroad
tatusmaru
Posts: 27 Forumite
Hi there,
I currently don't have a mortgage and pay £525 in rent each month. We've been saving up to move abroad in 2018, and so far have about 80% of the minimum we need to move.
Property prices where I live are reasonable. We'd be looking at a decent 2-3 bed flat for around £80,000, and our repayments would be £400 odd a month.
Would it be possible, and worth it to get a mortgage here now, and then let the property out when we move abroad? The rent on a similar property here would be around £500-£600. Could it be a good investment?
I'm just thinking about whether in the longer term that having a property back home would be wise in case things don't go as planned when we move abroad, but also as a trickle of extra income over the long-term.
Kind regards,
I currently don't have a mortgage and pay £525 in rent each month. We've been saving up to move abroad in 2018, and so far have about 80% of the minimum we need to move.
Property prices where I live are reasonable. We'd be looking at a decent 2-3 bed flat for around £80,000, and our repayments would be £400 odd a month.
Would it be possible, and worth it to get a mortgage here now, and then let the property out when we move abroad? The rent on a similar property here would be around £500-£600. Could it be a good investment?
I'm just thinking about whether in the longer term that having a property back home would be wise in case things don't go as planned when we move abroad, but also as a trickle of extra income over the long-term.
Kind regards,
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