We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
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,
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards