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    • cfillary
    • By cfillary 4th Jan 18, 12:48 PM
    • 4Posts
    • 0Thanks
    cfillary
    Moving Area and need advice
    • #1
    • 4th Jan 18, 12:48 PM
    Moving Area and need advice 4th Jan 18 at 12:48 PM
    Hi, We are selling our home in Essex and planning on escaping to the countryside in Somerset this year.

    We have got ourselves in a bit of a mess financially, and need some of the equity to pay off debts otherwise we would not be able to get a new mortgage, and we also need to find new jobs.

    Our plan is to sell, pay off the debts, and then purchase a static caravan here in Essex and live in that for a few months, whilst we sort out our credit files, arrange the new mortgage and my wife looks for a new job down in Somerset.

    We would find it almost impossible to rent as we have 4 dogs, which is why we came up with the idea of the caravan.

    Are there any financial pitfalls in getting mortgages, finance, etc whilst living in a caravan? Not having a permanent residence for 6 months say?

    Any advice would be welcome.

    Thanks
    Last edited by cfillary; 04-01-2018 at 1:07 PM.
Page 1
    • Slithery
    • By Slithery 4th Jan 18, 12:58 PM
    • 721 Posts
    • 1,129 Thanks
    Slithery
    • #2
    • 4th Jan 18, 12:58 PM
    • #2
    • 4th Jan 18, 12:58 PM
    It will probably be much cheaper to rent than to buy then sell a static caravan.

    My sister has 3 dogs and finds rentals easily enough.
    • cfillary
    • By cfillary 4th Jan 18, 1:06 PM
    • 4 Posts
    • 0 Thanks
    cfillary
    • #3
    • 4th Jan 18, 1:06 PM
    • #3
    • 4th Jan 18, 1:06 PM
    We will probably be keeping the caravan as a base to come back to Essex as we have family and other ties here, so will be coming back pretty regularly, and could rent it out when we are not using it too.
    • Slithery
    • By Slithery 4th Jan 18, 1:21 PM
    • 721 Posts
    • 1,129 Thanks
    Slithery
    • #4
    • 4th Jan 18, 1:21 PM
    • #4
    • 4th Jan 18, 1:21 PM
    and could rent it out when we are not using it too.
    Originally posted by cfillary
    Are you sure about that? You need to check the terms of the site as a lot of them don't allow this.
    • lincroft1710
    • By lincroft1710 4th Jan 18, 1:51 PM
    • 10,725 Posts
    • 8,982 Thanks
    lincroft1710
    • #5
    • 4th Jan 18, 1:51 PM
    • #5
    • 4th Jan 18, 1:51 PM
    Some holiday caravan sites don't allow dogs, some don't allow sub-letting, some don't allow either. Virtually all have a permanent occupancy restriction, which means the site will be closed for between 1 and 6 months during a 6 month period.
    • lincroft1710
    • By lincroft1710 4th Jan 18, 2:00 PM
    • 10,725 Posts
    • 8,982 Thanks
    lincroft1710
    • #6
    • 4th Jan 18, 2:00 PM
    • #6
    • 4th Jan 18, 2:00 PM
    Further thoughts.

    You do realise that site rent for a caravan can be easily £3,000 to £4,000 pa.

    Personally I would have thought it would make more sense to earn enough in Essex to pay off your debts, then look for jobs in Somerset, then you can think about moving
    • cfillary
    • By cfillary 4th Jan 18, 2:00 PM
    • 4 Posts
    • 0 Thanks
    cfillary
    • #7
    • 4th Jan 18, 2:00 PM
    • #7
    • 4th Jan 18, 2:00 PM
    Thanks Guys, we have one in mind, and they are ok with dogs, and the sub-letting bit was only a possible option to utilise the caravan once we hav moved, and isn't a deal breaker.

    We are also hoping to only be in there for 6 months or so, from about this April, through the summer.

    It will also make it easier if there is a delay in buying a house down in Somerset and me finding a job down there (I am the main earner), so I could stay here for a bit without having to pay a mortgage and also rent.

    What I really wanted to know was if there were any complications in obtaining a new mortgage, or getting a new job, getting car insurance, etc if you live on a caravan site for a few months, as if so that would render the plan useless!
    • Slithery
    • By Slithery 4th Jan 18, 2:05 PM
    • 721 Posts
    • 1,129 Thanks
    Slithery
    • #8
    • 4th Jan 18, 2:05 PM
    • #8
    • 4th Jan 18, 2:05 PM
    No complications, it will have a proper address just like a normal house.
    • lincroft1710
    • By lincroft1710 4th Jan 18, 2:15 PM
    • 10,725 Posts
    • 8,982 Thanks
    lincroft1710
    • #9
    • 4th Jan 18, 2:15 PM
    • #9
    • 4th Jan 18, 2:15 PM
    One of my neighbours has moved to the south west. But after 15 months he has still not found a buyer for his house here! I presume you won't be able to purchase the caravan until the house is sold, which unless you have a buyer lined up, is likely to be in May, June etc. Will you sell your furniture or pay to store it (more expense)
    • cfillary
    • By cfillary 4th Jan 18, 2:35 PM
    • 4 Posts
    • 0 Thanks
    cfillary
    House has been on the market for a couple of months, and we almost have a buyer (with no chain). They are just trying to sort their finances out, but have virtually promised us an offer (I know nothing is definate until it happens, but they even sent us a text yesterday just to make sure we hadn't had any offers!)

    With no chain, we are hoping to time things for when our current mortgage deal finishes at the end of March, and yes you are correct, we wont be able to buy the caravan until the house is sold.

    Furniture will probably mostly go into storage, some sold, some to the tip lol

    Thanks for the advise regarding having a "permanent" address.
    • lincroft1710
    • By lincroft1710 4th Jan 18, 6:18 PM
    • 10,725 Posts
    • 8,982 Thanks
    lincroft1710
    My neighbour is still trying to sell to the person who agreed to buy in July!
    • HampshireH
    • By HampshireH 4th Jan 18, 6:52 PM
    • 700 Posts
    • 744 Thanks
    HampshireH
    Why Somerset.... do you have ties there is the reassurance of work?

    If not it may be worth starting the job hunt asap.
    • JoJo1978
    • By JoJo1978 4th Jan 18, 6:59 PM
    • 350 Posts
    • 429 Thanks
    JoJo1978
    It may be hard to look for a new job without defined timelines of when you will be based in Somerset. I've just relocated 120 miles and gave up searching in our new area in the end until we'd exchanged contracts. That turned out to be 5 months after I finished my last role
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Part-time gigger and charity volunteer 2018
    • elsien
    • By elsien 4th Jan 18, 7:06 PM
    • 16,521 Posts
    • 41,703 Thanks
    elsien
    Do you have a plan B for if finding a job etc takes longer than expected, and you get to the time when you have to unoccupy your caravan?
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
    • Fen1
    • By Fen1 4th Jan 18, 7:28 PM
    • 1,407 Posts
    • 5,539 Thanks
    Fen1
    As a previously asked, why Somerset? Depending on your profession, the job market in the West isn't that great. The housing market is also skewed in favour of retirees, second home owners and holiday lets ( not as bad as Cornwall and Devon, but the "nice" areas are definitely not cheap. And there are quite a few run down areas in Somerset ( no matter how pretty) as the job market is so dismal, exacerbated by poor road and rail connections. )
    Please don't get me wrong. I'm very fond of the West, but it isn't all cream teas and roses, especially if you don't have a job.
    • kittie
    • By kittie 4th Jan 18, 8:08 PM
    • 12,157 Posts
    • 76,291 Thanks
    kittie
    oh dear, somerset is not a good choice. There is no available property to rent because everything has been taken up with accomodating hinkley workers, including every available caravan. Locals cannot get homes to rent. Even caravans in the remote outlying vallages have been booked for the workers. Jobs in somerset? what jobs?
    Last edited by kittie; 04-01-2018 at 8:12 PM.
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