FTB Mortgage process with relocation

racharul

Hi all

My husband and I are currently renting in London, but want to move to the NW (Manchester) due to living costs. In order to save on two sets of moving costs we would rather buy a property outright and move straight there at the end of our tenancy in London. We will both be FTBs.

What we can't figure out is what salary to tell lenders/for working out how much we can borrow. Should we be using our current London salaries, or the salaries that we will be earning once we move to Manchester (presumably lower, but unknown atm)? And how will the lenders look at this given there is bound to be a change of salary?

My husband will just be moving offices with the same employer, but my case is more complicated as I want to go to a part-time contract and may even move employer alongside the move north (the alternative is to keep the same employer in London but work remotely for what may be a lower salary).

Any advice/thoughts would be great please.

middleclassbutpoor

You will need to apply with the salary of your manchester salaries as that is what you will be earning when you live there.

You will need to consider changing jobs - probation periods. May need a broker to ensure you get a lender comfortable with this.