Moving 150 miles away... questions!

emsywoo123

Hi all,

We are planning a move in about 14 months to 150-ish miles away. It will mean finding new schools for the children, new jobs for us, and buying a house.

Schools I can cope with, jobs should not be a huge issue, and we will have 6 months worth of savings to give us a cushion and buy us some time.

What I need advice on is the house/mortgage (we currently rent)
We will have approx 67% of the house value in cash, so will need a mortgage of about £100K. If we can find comparable jobs to here, we are on about £65K combined PA.

The issue of course is that we would not be employed? Or at least on our notice periods when trying to apply?:eek:

I am sure there is a logical answer to this as we cannot be the first family in the country to re-locate, but I cannot see the wood for the trees at the minute!:o

Many thanks in advance :T

bertiewhite

Why are you moving 150 miles away - is it to be near family?

emsywoo123

bertiewhite wrote: »

Why are you moving 150 miles away - is it to be near family?

Mostly, yes.

LandyAndy

Do what we did. Rent to start with, get jobs, then look to buy.

emsywoo123

LandyAndy wrote: »

Do what we did. Rent to start with, get jobs, then look to buy.

Could we rent without jobs?

In an ideal world (I know!) we would not rent, because the move will be unsettling for the children as it is, would be great to move into a more perm home.

Silvertabby

Renting first would give you the chance to get a feel for the area, and to be able to view a number of houses rather than plump for the fist one you see out of a sense of panic 'rush, rush, got to get the kids settled!'

Correct me if I'm wrong, but I'd have thought that it would be easier to rent than to get a mortage when you are between jobs.

Madmel

Could you not offer to pay the first 6 months upfront?

Cakeguts

The old fashioned way of doing this would be for one of you to get a job in the new area and then live in cheap rented accommodation there and then for the other one to get a job in the new area and move into rented on the two new incomes while looking for something to buy.

lookstraightahead

Rent first unless you know the area really well. Moving areas might be unsettling for the kids to start with, but moving house could just be seen as exciting. Lots of children move whether renting or buying.

I will be moving in a few months and we will rent first too. You are in a great position if not having to sell so use this advantage wisely

bertiewhite

I was going to suggest staying with with the family you want to be near whilst you job hunt and look for suitable properties. It might mean being apart from your own family during the week but I've done it.

KL0001

Cakeguts wrote: »

The old fashioned way of doing this would be for one of you to get a job in the new area and then live in cheap rented accommodation there and then for the other one to get a job in the new area and move into rented on the two new incomes while looking for something to buy.

This is essentially what we’ve done. My husband works in the area we want to live in and has done for almost a year, this way he’s through his probation period so using his salary for our mortgage isn’t a problem. It’s been costly in the interim as we’re paying rent for him and a mortgage for our current home, large fuel costs due to his travel, extra childcare cost as he’s away, plus his food etc costs are high due to a lot of convenience eating whilst he’s working away.

I can’t see how you can get a mortgage with no proof of income, Many lenders are unlikely to offer you a mortgage whilst you are in a probation period for a new job, especially as it will be both of you. Getting a rental and offering say 6 months/year up front would be more likely, give you enough time to settle in your new area, get jobs etc before you look to buy.