First Time Buyer but moving city

anewloginapparently

Hi,

I am a nurse who currently lives in rented accommodation in Sheffield but who is looking to buy my first property next year (having saved a 5% deposit).

However whilst I currently live and work in Sheffield I am hoping to move to Glasgow at the same time as buying my first property.

I will have no problem finding a nursing job but I just wondered how it would work with applying for a mortgage.

Do you apply for the mortgage with my current job (where obviously I've got pay records going back several years) even though this job is in a different part of the country to the property I'm hoping to buy.

Or do I apply for the mortgage once I've got the offer of a new job in Glasgow putting that job (even though it'll be a new job and will have all the caveats of probationary periods etc)?

Also this would mean buying a property around the start of the job which would leave me little time to find and complete on a property. Whilst it would be easier to find a job that started at the same time as I completed, if that makes sense?

Any help would be greatly appreciated.

smile88egc

Buying your first house in a city you don't know could backfire if you end up buying in an area that you can't sell later, years down the line.
A 5% deposit is an additional risk if prices do not keep climbing, you could find yourself in negative equity.

My advice: Move to Glasgow, get to know all the areas and take your time looking for the right house. This could take 6-9 months. In the meantime find a very cheap rent, maybe a houseshare with other professionals, and try your hardest to save for a 10% deposit. You will find much better mortgages available to you too then. Best of luck!

bettyna

Hello, I'm just following this thread if you don't mind as I am in the same situation ...