To be so worried that we now can’t move to Australia?

[Blanketwars]

I’m so upset about this. Because of the bloody disastrous economy, it’s looking less and less likely we will be able to move to Australia next year like we had always planned. My visa runs out end next year. We had wanted to rent out our house and go over - but if house prices tank, we’ll never have enough equity to get a BTL mortgage. We bought a reno and it’s not nearly in a state to put it on the market and sell now.
I’m just so sad all the time and DP is being understanding and trying to encourage me about it saying wait and see but I’m just not handling it very well.

For context, I lived there for 4 years (and didn’t stay for one more year and get my citizenship like an absolute fucking eejit) but my plan was always to go back. Then I met DP (who’s wonderful, and agreed to come with me) then Covid happened, then we had DS. But we still had time. But now the bloody worlds imploding and it’s slipping away and I’m gutted.

When the world just won't go in my favor, I comfort myself by thinking that the Universe must be protecting me for some reason that I don't yet understand. I find this helps me accept that life doesn't always go as planned and sometimes this creates space for other good things we might never have planned for to happen.

Instead of a BTL mortgage could you get permission to let from your current mortgage provider? Or could you sell the house once the renovations are done?

@purplethings I do get what you’re saying, and with anything else would be very much inclined to agree. But very much struggling to accept it on this subject.

@Alaimo yes, I suppose that’s a possibility. But I think most will only give you a consent to let for a year? So then what would we do?

Just sell the house and go.

If it means that much to go just sell up now and cut your losses. The finances might be different to what you hoped but it’s not worth sacrificing a lifestyle for. Nothing is ever certain with house prices and renting out is a PITA. I wouldn’t bother personally!

Permission to let can be given for longer than one year, there is a fee that is paid on each renewal.

You still have time to get it in a sellable state.

you could also save the money instead to launch your life in Australia and rent out there while you work and then sort out the U.K. house. For either buy to let or renovate using a project manager here.

your house is an asset not a hindrance. 😀

The world is not imploding. What a ridiculous thing to say

You need to think more positively. Where there is a will there is a way.

If your house isn’t in a sellable state then surely it’s not in a rentable state either? Get it to a decent standard and then depending on the economy either rent or sell it.

I've had consent to let annually for 7 years. £120 a year.

If it’s mid-renovation then you can’t rent it out either - and you can’t supervise renovations from Aus!

Get it to the state where you can either sell or rent. Or accept you’ll be selling it for less than it might be worth sometime in the future.

You can still go. You just might have to adapt your plans, that’s all.

Rent in some cities in Australia is astronomical at the moment and people are competing with 40-60 plus others to rent the one (rare) property. Something to bear in mind.

Why can't you sell it? You bought it as a reno, why wouldn't someone else?

This, very possible we did this

All these doom and gloom posts. I might have to start channeling my inner Fraulein Maria.

Raindrops on roses, and whiskers on kittens

House prices haven't tanked yet. In fact three houses went in the market in my neighbourhood in the last couple weeks and all have sold, at prices pretty much in line with what they were selling fit a few months ago.
I'd keep at it and don't anticipate something that hasn't happened yet.

Don't need a BTL mortgage. Just get permission to rent it out. My provider (Halifax) had an online form to request permission for a year, they granted permission really quickly and then every year I just reapplied. Rented mine for 3.5 years in total. No hassle. No fees.

Why not just get on and get it in a state to sell over the next couple of months?

Surely you can't rent it out until its good enough to sell otherwise you're trying to rent out a crappy house that unfinished and always will be. So focus on getting the house finished and sell then. Not sure on money and work requirements to go out there but you need to go one step at a time.

Consent to let. You have to renew it every year but it’s a simple form. Show some desire / uncertainty on when you’ll be back.

YABU. There’s lots of ways you can do this if this is what you really want, just pick one.

We had consent to let from Halifax for at least 3 years.

As suggested above this seems to have a number of solutions.

Is it possible that you or yourDH are viewing this as a bigger obstacle because deep down, you're having some doubts about the move?

I agree with PP that some things just aren’t meant to be and that things happen for a reason which isn’t always immediately obvious.

as it so happens me and then DH were going to emigrate to Australia 20 years ago. We had everything in place, and then I fell pregnant, so we decided to wait until the baby was born, and then the idea of moving abroad with no support with a tiny baby was something we thought of and then decided to put plans on hold. Then life kind of took over, and then we split up, and then I was diagnosed with a life limiting illness, and looking back I’m glad that didn’t all happen 12000 miles away.

Ultimately if your house is mid renovation it’s not suitable to let anyway. And I also suspect that if you were planning this as a permanent move you wouldn’t even be considering renting out your house but would be selling it. So clearly this isn’t the 100% dream you’re trying to tell yourself it is.

Oh and, the world is not imploading. Don’t be so dramatic.