Relocating - Likelihood of Mortgage

old_hat

Any advice welcome,

Myself and my partner are relocating to the other side of the country - currently staying with in laws whilst we get set up.

The sale of our flat is going through next week.

We have both been on Permanent contracts in our respective jobs (teachers). I have secured a permanent contract whilst my partner temp until December. This is likely to be made into a permanent post later in the autumn.

Ideally to get the home we want we would like to use both incomes in the application. Would we be able to get a mortgage from a provider on the basis of one of us has only temp position.

The alternative would be to rent for 6 months until the temp post is made permanent. But if we could get a mortgage earlier that would save two moves, fees, removal costs etc.

Any advice would be welcome.

haf1

Have you had a chat with an independent broker about the issue?

On a different note, when moving across the country, I would definitely want to rent in the area, at least for six months, before buying a house.

old_hat

Thanks. Yes, we have asked some brokers. Waiting to hear back.
Out of interest why would you want to rent for six months before buying a house?

haf1

why would you want to rent for six months before buying a house?

To be able to easily move again if I hated the job, if the area wasn't right for me and the commute was a nightmare - that sort of stuff. Owning a house you are stuck, at least for a few years.

Also I wouldn't care for being in a chain while working on the other side of the country, and prefer renting to staying with in-laws while getting everything sorted and looking for a nice place to buy.

I moved (to a rental) before, to a quaint little village outside Manchester, great commute, surrounded by beautiful Pennine landscape and totally unaware the valley was a rain trap. The fact that moss and actual ferns were growing on the stone garden walls down the street might have been a hint ...

P.S. reading from your other posts that you plan to sell your old flat 6 months after getting the mortgage, which then turns out to be diffult to sell on ... yes, this sort of thing.

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dancing_star

old_hat wrote: »

Out of interest why would you want to rent for six months before buying a house?

I rented for a year after moving to a new area for a new job.

In my case, I wanted to be sure it was the right career move for me. I gave myself a year and rented out my house in the old area. I left a job I hated and was really unhappy in. I didn't want to buy straight away in the new area in case it was another mistake or in case the new job wasn't as secure.

Happily, it was the right move and I'm fine in my new job. I'm selling my old place and buying a new one, but that year gave me the breathing space to ensure it was the right move, and also to look round the area, get used to it, and check out possible locations. You get time to find out where the traffic hotspots are, which areas are good value, where the amenities etc are. I couldn't have done that if I'd bought straight away.

OK, it's worked out a bit more expensive. But as I told an interfering relative a year ago, I made the decision to move quickly, and moved a month after accepting new job. I couldn't have bought a new property and sold my old one in that time anyway.

VintageHistorian

I'm on a temporary contract (albeit 2 year contract) and Halifax gave us a mortgage because my previous job was a permanent contract and had been in the same line of work (administration). My OH is in a permanent job, and had been at his place for over 5 years.

Natwest gave us a DIP with the same info (had them as a back up), Nationwide wouldn't give us the time of day, we didn't try any others once Halifax and Natwest were in the line up. We had a 15% deposit as well, which probably helped.

old_hat

Thanks for your replies

Our move is to relocate to Cornwall after 2 years of hellish crappy experiences with selling our flat!

Have left the flat staying with relatives atm. The funny thing about cornwall though is that rent is still cheaper than staying with said relatives and the commute from the relatives as we are paying money for furniture in storage.

We are cornish and know the area so the sooner we can get set up the better. Will see in the week what the brokers come back with

Thanks for your replies

old_hat

VintageHistorian wrote: »

I'm on a temporary contract (albeit 2 year contract) and Halifax gave us a mortgage because my previous job was a permanent contract and had been in the same line of work (administration). My OH is in a permanent job, and had been at his place for over 5 years.

Natwest gave us a DIP with the same info (had them as a back up), Nationwide wouldn't give us the time of day, we didn't try any others once Halifax and Natwest were in the line up. We had a 15% deposit as well, which probably helped.

Both of us have been teachers for 9 and 14 years non stop. I am starting on a perm 1 sep and my partner in a separate school, albeit initially for first term but they will want her to continue as the kids will need a teacher in front of them!

We phoned halifax today and they will call us in the week