There has to be an easier way....

mamabuddah

So I want to sell a house in Northern Ireland, buy a new one in England. 

I know now as we come out of covid things aren’t completely opened up yet, but there must be a forum or someone somewhere must have gone through this and documented it somehow.

I have an area in mind, on a new development and had some great advice on here whether I should be able to get a mortgage for the difference in my sale price and the new purchase price, (thanks to “I’m a Broker...”) probably around £40k - £45k. (OH and I total retirement income circa £36k guaranteed, possibly a transfer to new work location p/t with same firm on mainland, will raise that to £43k).

Having only ever bought a house before, 37 years ago, and now in our 60’s...I find it daunting, not least because it seems if we sell here, we might have to rent a home in England and most renters are wanting a 12 month contract....

Its terrifying to think,
1) we put our house on the market and it sells relatively quickly = homeless
2) we (at short notice) try to find somewhere to rent in England (furnished/unfurnished our stuff goes into storage)
3) we can’t find a new home we like for 6 months = additional expense
4) discover that because circumstances changed we no longer have an offer in principle (think that’s the name)
5) we get trapped in a renting situation draining our resources
6) meantime house prices rise during our searches
7) we end up in a worse position, living away from what we know

you can probably tell I’m a worrier and stressed writing this....why do we still want to move?...our only family is there now...decisions, decisions...and no real plan or structured steps to take to get the ball rolling, do we get approval first for additional mortgage funds? Do we put this house on the market then look for a rental...I'm not a fan of  throwing caution to the wind....be great if someone had a step by step sequence to follow...which is where the title of my post comes in.

”There has to be an easier way”... and we’re not getting any younger...although I’m sure it’s just as terrifying for a young couple just starting out...so good luck to all of you.


EDITED TO ADD

Think the only real thing in the process that we’ve come up with is to DECLUTTER and start and get rid of/sell off/donate to charities items we know we won’t be taking with us...so I suppose that’s a start. 😀

theartfullodger

Property transactions are always a gamble, sorry, plus what Proudhon said.

mamabuddah

theartfullodger said:

Property transactions are always a gamble, sorry, plus what Proudhon said.

Can appreciate that, especially at the current time...but not knowing where to start or even go about it is probably our real problem.

hazyjo

Looks to me like the only way of eliminating most of that would be to buy. But that in itself creates its own problems. How well do you know England and the area you're interested in? Have you asked for an honest opinion here? Are you following local FB groups? I live in a lovely area, but if someone moved here without any local knowledge, they may well get it wrong.

The thing with a new development is you don't know what you're getting. Can't check (to a certain extent) neighbours, parking, flooding/drainage, sunlight, build quality, and other issues like smells from a sewage farm 5 miles away when the wind's blowing in a certain direction(!), etc. You're also likely to be paying a premium with a new build.

Yes, if you rent, most LLs will want you to sign up for a 12 month contract, but you may be able to negotiate (or it may be there as standard) a 6 month break clause.

I would be nervous in your shoes too. I've moved to areas I knew nothing about, but researched and researched and researched, and stayed over for the odd night here and there, and got to know everything like a local. I don't ever remember getting a house location wrong and I've moved loads.

rose_T

If you have Facebook there are some really good advice groups

first time buyers - advice and discussion U.K. 
U.K. mortgage form -24/7 Guidance. 

Both the above groups are really good! Maybe have a look on there for more advice 

NameUnavailable

You say you would like to buy a place on this new development?

Surely the hardest part is done - finding a place you want to move to. So, when you are able to reserve a place on the new development you put your home up for sale and either wait until the new place is ready or break the chain to keep your buyer and move to rented until the new house is ready.

Also a lot of developers offer part exchange schemes - does the one you're looking at offer this?

dimbo61

What is the problem or worry about renting for 6/12 months.
Rent a smaller place and take your time to get to know the town or city you want to move too.
I can tell you there is nothing so stressful as sitting outside  your " New home " at 4pm waiting for the funds to go through with 6 removal guys wanting to unload 3 big vans after sitting outside for 4 hours and then having to drive home to Wales in the dark.
You can take your time and research the area. Stay in your rental for a couple of weeks or a month while you get work done, new carpets, kitchen etc