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  • FIRST POST
    • imrt92
    • By imrt92 9th Aug 18, 1:21 PM
    • 3Posts
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    imrt92
    Can I buy my first property in a different city?
    • #1
    • 9th Aug 18, 1:21 PM
    Can I buy my first property in a different city? 9th Aug 18 at 1:21 PM
    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.
    Last edited by imrt92; 09-08-2018 at 1:24 PM.
Page 1
    • westernpromise
    • By westernpromise 9th Aug 18, 1:26 PM
    • 4,256 Posts
    • 5,523 Thanks
    westernpromise
    • #2
    • 9th Aug 18, 1:26 PM
    • #2
    • 9th Aug 18, 1:26 PM
    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.
    Buying a house, if you believe the market has a way to fall, or if you are paying sill asking prices ( like some sheeple ) or if you are buying in London, is now a massive financial gamble!!!!! - June 8, 2012 by TheCountOfNowhere
    • Cakeguts
    • By Cakeguts 9th Aug 18, 1:29 PM
    • 4,658 Posts
    • 6,715 Thanks
    Cakeguts
    • #3
    • 9th Aug 18, 1:29 PM
    • #3
    • 9th Aug 18, 1:29 PM
    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
    • By arciere 9th Aug 18, 1:30 PM
    • 51 Posts
    • 5 Thanks
    arciere
    • #4
    • 9th Aug 18, 1:30 PM
    • #4
    • 9th Aug 18, 1:30 PM
    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
    • By Pixie5740 9th Aug 18, 1:45 PM
    • 12,643 Posts
    • 18,025 Thanks
    Pixie5740
    • #5
    • 9th Aug 18, 1:45 PM
    • #5
    • 9th Aug 18, 1:45 PM
    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
    • By imrt92 9th Aug 18, 1:51 PM
    • 3 Posts
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    imrt92
    • #6
    • 9th Aug 18, 1:51 PM
    • #6
    • 9th Aug 18, 1:51 PM
    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
    • By westernpromise 9th Aug 18, 1:59 PM
    • 4,256 Posts
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    westernpromise
    • #7
    • 9th Aug 18, 1:59 PM
    • #7
    • 9th Aug 18, 1:59 PM
    Why not just buy in Brum? Brum's not bad plus you wouldn't have to live among Manks.
    Buying a house, if you believe the market has a way to fall, or if you are paying sill asking prices ( like some sheeple ) or if you are buying in London, is now a massive financial gamble!!!!! - June 8, 2012 by TheCountOfNowhere
    • AnotherJoe
    • By AnotherJoe 9th Aug 18, 2:41 PM
    • 10,116 Posts
    • 11,372 Thanks
    AnotherJoe
    • #8
    • 9th Aug 18, 2:41 PM
    • #8
    • 9th Aug 18, 2:41 PM
    [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
    • By xylophone 9th Aug 18, 5:46 PM
    • 26,088 Posts
    • 15,451 Thanks
    xylophone
    • #9
    • 9th Aug 18, 5:46 PM
    • #9
    • 9th Aug 18, 5:46 PM
    It's only about an hour and a half on the train?
    • p00hsticks
    • By p00hsticks 9th Aug 18, 5:50 PM
    • 6,329 Posts
    • 6,862 Thanks
    p00hsticks
    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.
    Originally posted by arciere

    Your lender might not care, but your employer may look a bit askance when you give them your new address
    • kingstreet
    • By kingstreet 9th Aug 18, 6:15 PM
    • 33,836 Posts
    • 18,379 Thanks
    kingstreet
    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.
    • AnotherJoe
    • By AnotherJoe 9th Aug 18, 9:04 PM
    • 10,116 Posts
    • 11,372 Thanks
    AnotherJoe
    It's only about an hour and a half on the train?
    Originally posted by xylophone
    Then add in the commute at each end and the wait for a train and you are likely up to 2.5 hours.
    • imrt92
    • By imrt92 10th Aug 18, 10:56 AM
    • 3 Posts
    • 0 Thanks
    imrt92
    Thank you all for your input with this. Much appreciated!
    • lisyloo
    • By lisyloo 10th Aug 18, 11:03 AM
    • 22,237 Posts
    • 10,881 Thanks
    lisyloo
    It's only about an hour and a half on the train?
    Originally posted by xylophone

    You need to look at door-to-door (unless you work at railway stations).


    My door to door is twice the train time i.e..increases from 75 to 150 mins.
    5 hours a day is too much.


    It might be cheaper up north, but in the SE that kind of trip can be very expensive in peak hours e.g. Bristol->London.
    At short notice it can be 100 single.
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