We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Can I buy my first property in a different city?

imrt92
imrt92 Posts: 3 Newbie
edited 9 August 2018 at 12:24PM in House buying, renting & selling
Hello everyone!

I'm currently based in Birmingham with a F/T job. I'm looking into buying my first property in Manchester as I was there for 5 years as a university student. With my job being based in Birmingham, am I able to buy my first residential property in Manchester with a 90% LTV mortgage?

Or will I need to relocate back to Manchester and find a job there, pass the probation period and from there, apply for a residential mortgage to buy a property in Manchester?

Any help would be appreciated. Thank you

Edit: I will be buying with the intention to live in it. No intention to rent the property out.
«1

Comments

  • westernpromise
    westernpromise Posts: 4,833 Forumite
    You can buy it wherever you like but if you're planning to live in Manchester and commute to Brum you're going to spending a lot of time and money on commuting that you will not get back.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    You can buy wherever you like. The only thing is that the further away it is the more problem you will have getting to it to live in it.
  • arciere
    arciere Posts: 1,361 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    I don't think the lender cares about where your job is, but it may affect your affordability checks if it turns out that you are spending a lot in commute.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    Lenders do care where your home is in relation to your job. No lender is going to believe that someone who currently lives and works in Birmingham is going to start commuting between Manchester and Birmingham.
  • imrt92
    imrt92 Posts: 3 Newbie
    I thought so. Probably best if I find a new job located in Manchester -> relocate and rent in Manchester -> pass probation period and then apply for a mortgage.
  • westernpromise
    westernpromise Posts: 4,833 Forumite
    Why not just buy in Brum? Brum's not bad plus you wouldn't have to live among Manks.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    [QUOTE=imrt92;74638069
    Edit: I will be buying with the intention to live in it. No intention to rent the property out.[/QUOTE]

    No lender would believe that. They will think you are looking to rent it out on the sly.
  • xylophone
    xylophone Posts: 45,916 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It's only about an hour and a half on the train?
  • p00hsticks
    p00hsticks Posts: 14,895 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    arciere wrote: »
    I don't think the lender cares about where your job is, but it may affect your affordability checks if it turns out that you are spending a lot in commute.


    Your lender might not care, but your employer may look a bit askance when you give them your new address
  • kingstreet
    kingstreet Posts: 39,426 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Avoid lenders who carry out plausibility checks on the location of your current home, new home, employment location and transport costs.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.7K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.1K Spending & Discounts
  • 246.8K Work, Benefits & Business
  • 603.3K Mortgages, Homes & Bills
  • 178.2K Life & Family
  • 260.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture