How the fuck am I supposed to relocate when these are the 'rules'?

[PissedOffAndStuck]

TL:DR

I want to relocate 200+miles away. I can't get a mortgage in principle because I won't have a job initially due to the distance; I can't get a job because I can't commute 200 miles each way to work!

Help!!!

Wanting to relocate from South Coast to North Yorkshire. Have a good amount of equity but want to reduce outgoings. Would still need a small mortage to buy new place (approx 15% LTV). After current home is sold and all expenses paid would be debt free with a contingency fund of approx £10k.

My current mortgage provider won't talk to me about anything because 'we can't offer advice' but you need a job for any of our products including porting your mortgage.

Mortgage providers in general want proof of regular income which given that I'm moving over 200 miles I can't provide.

Looked into shared ownership - 75% share purchased outright and £146 per month rent with option to staircase to 100% one I'm settled and get a job and can get a mortgage...computer says no...they also assess on monthly income.

How TF do people relocate? I'm looking for remote working jobs but ones that would suit me are few and far between and presumably one of the finance jobsworths is going to want umpteen payslips in triplicate before agreeing anything.

I've waited so long to make this move and my current lifestyle is absolutely killing me.

Can anyone suggest a way I can make it work? I might be able to scrape together enough to buy something without a mortgage but it would be tight.

Talk to a good broker.

• Become a lodger in North Yorkshire. Parts of it are cheap (especially compared to the South West)
• Apply for a job and get the job
• Then get a mortgage

You rent for a while to ensure that the new job and new area are a good fit for you.

Rent first? Get a job then apply for a mortgage

There's not really any other way

Move into rented for the interim?

They rent.

You rent until you find a job? Why do you want to buy so quickly anyway? Much more sensible to rent while you get to know the area better

Do you currently have a job where you are?

If you do, you just apply for the mortgage based on that. The mortgage company isn’t going to ask you where you job is based (unless things have changed a lot since I worked in mortgages); they want proof of actual income.

Then you deal with the job hunt once the mortgage has been approved!

We moved to North Yorkshire from London. We rented until we had both got settled work-wise and also had a chance to look at different areas to make sure we were choosing somewhere that suited us. Better that than buying somewhere and discovering that either the village was dead or full of unwelcoming cliques.

When we have moved cities we rented for 6 months or a year and then bought a home.

You might struggle to rent. In many areas there is competition for rental properties and landlords would choose someone with a job over someone without.

Being a lodger might be an easier, and cheaper, first step. Then get a job and then buy. You will also then be an attractive buyer as you are not in a chain.

Usual sequence is

1. find job
2. find temporary accommodation
3. find permanent accommodation

If you have deep pockets, you might be able to skip a step or two. But trying to go straight to (3) is both difficult and risky. So even the very well off wouldn't normally go straight to that option.

Depending on your family situation, you might be able to rent somewhere small or even single room lodging for just one working adult while the family stays in your current home?

Can’t you rent when your first relocate and then buy once you have a job?

As in a temporary rental / longer term Air BnB. Or if by yourself you can find a share as you won’t need a job.

I’m with the mortgage companies. They only care that you can pay the mortgage and how can you prove that if you don’t have a job? It would be irresponsible to lend you anything.
Sell. Rent. Then buy at your leisure.

I've done something similar and stayed in a holiday lodge off season for much lower rates and with a very flexible contract. I'd say your only options are to rent/lodge/stay in a guest house/property guardianship for 3-6 months, Keep your cash in a high interest ISA and savings account, then pull all your resources together when you are actually mortgageable again.

Most people find the job first and then move to the job, renting, lodging or airbnb’ing until they have the stability to get a mortgage.

But if I was going to move 200 miles, I’d do it with my current job as they have offices around the country so I’d be able to work out of a local office immediately with some travel back to my current location and then I’d move to a more local role once I had actually moved,

I do get this but once my property is sold I'm looking at approx 80% deposit and enough money in the bank to cover 2.5 years worth of mortgage payments - it seems crazy that there is no wiggle room given the circumstances.

I have been visiting the area and planing this move for about 10 years - waiting until my DD was independent before moving so I'm confident in that aspect of the move.

Although I have decent equity, I'm not a high earner and am moving to reduce outgoings and have a slower pace of life. If I have to rent for god knows how long and put stuff in storage it's going to heavily impact what I'm able to buy once I'm working.

Doesn't really work when you work in a school unfortunately

We lied. Said we were living with our parents down south for free during the week and spending weekends at our new home. Worked, they're not there to question life styles only finances. Obviously when it went through we handed notices in and took new jobs up with new house.

Buy somewhere small out right then upsize after a year. Bonus points if you buy something you can add value.

Actually, it just occurred to me that I have never moved without a job in place. So even renting wasn’t an issue.

Don’t school jobs tend to hire in advance of the next school year? It seems like that would make this easier.

Honestly can't say I blame you.

It absolutely does! We have just employed a teacher who’s moving from London to Manchester. She got her job last month for a September start.