Buying in a new area with new job

StarGazer85

Hi there
If I were to get a new job in a different part of the country starting in say, 6 months time, would it be possible to buy a new house in the run up to starting the new job?
I am currently renting and have saved up a deposit enough for 10% of the kind of price I am aiming for. My new job will pay more but not significantly more so I think I could afford any potentially new mortgage on the same salary I am on now. I ma not worried if the purchase completes before the new job starts - I would just incur the additional cost linked to this.
Is it possible for me to be putting in offers and going forward before starting my new job or will mortgage lenders want to see that I have been in a new job and have a new income etc? What kind of things would I need to consider? Sorry if silly q.
Thanks a lot

Davesnave

Many people would say that you'd be far better renting first in a new area.

If it's new to you, it's likely you won't know it well enough to pick the best places to live.

[Deleted User]

Really think you'd be better waiting til you have worked in the new job for a couple of months at least. Things might not work out as you expect. Hopefully it will all go swimmingly, but it may not. I have often found things I wouldn't have guessed at in a new job, colleagues you don't get on with, rules in the new company, attitudes etc. Wait for a bit til you tie yourself down.

Live in the area for a while and get to know it, if you don't already.

kinger101

A lender might want to know about the conditions associate with any probation term, but for the reasons already highlighted, renting somewhere first is sensible. Buying in the wrong area, or having to sell because your new job doesn't work out, can be very expensive.

zagubov

Another vote for renting first. Buying's a hassle enough as it is, you don't want to combine it with starting a new job.

Thrugelmir

StarGazer85 wrote: »

My new job will pay more but not significantly more so I think I could afford any potentially new mortgage on the same salary I am on now.

From the lenders perspective you haven't got a job though. Nor how much you will earn.

Lenders require hard facts not assumptions to base their decisions on.

goodwithsaving

Rent first and get far enough in that you know you like the job. That's what I did and it worked well (although I had another place to sell elsewhere)

Amanda_Cm

Another vote for renting first. We came to live in the Midlands because of my husband job place. He company he works for opened a new branch here and they wanted him to take over. I was pregnant with our first child at the moment and ready to work as a freelancer for a while so we decided to make the move.
We rented for a year and decided to look for a property to buy. The area we chose to live at first was looking nice but it turned out the crime rate was rising, the schools offsted is terrible, quite a lot of social housing. So when we made some local friends they advised us about the good areas. And really I can see the difference now. It took us 6more months to buy so all together 18months of renting but I am glad we made that decision.