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Can I buy my first property in a different city?

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imrt92
imrt92 Posts: 3 Newbie
edited 9 August 2018 at 1:24PM 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.
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Comments

  • westernpromise
    westernpromise Posts: 4,833 Forumite
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    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
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    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: 1,354 Forumite
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    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
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    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
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    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
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    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
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    [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: 44,427 Forumite
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    It's only about an hour and a half on the train?
  • p00hsticks
    p00hsticks Posts: 12,833 Forumite
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    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: 38,770 Forumite
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    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.
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