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.

Not sure why one poster keeps going on about payslips…..you give the payslips from your current job, this is one of the earlier stages of getting things in place so won’t be a problem at all. This is a complete non issue. Only thing I would say is we had extra money put aside in case everything fell through last minute. My OH could cancel his notice and continue to work where mine I would have lost but had 3 months of savings.

It’s easy to move across the country, no idea why you think the bank will scrutinise you, as long as you are eligible everything would be fine.

I did it. Got my mortgage even though it was based on a new property 4 hours away - based on my job at the time. No-one asked. I didn’t tell! I knew I would have enough equity to last a few months and setup some work straight away.

Can you sell your house, rent in London, buy in Yorkshire, do supply teaching in Yorkshire while looking for a permanent job.

I got the job first, then in my 3 month notice period I found somewhere to live.

You need to secure the job, then find rental accommodation, sell your current home and then buy.

Or

Sell current home, buy new home whilst staying in current job. Then once new home is secured, change jobs - using temp accommodation near current job if necessary for a while.

You can’t do it in one move with a mortgage and job dependency.

Most people who relocate plan to rent first rather than buying a place somewhere they have never lived.

Do you teach a subject that is difficult to recruit for? Try getting a job at a boarding school that comes with accommodation, then job-hunt for jobs you actually want once you have found a place to buy.

Do you have enough funds to pay the mortgage if you don't get a new job?

We moved from north West to east coast, DH is full time WFH and I applied for and was granted WFH so I kept my job.
However, we ported our mortgage and borrowed more and at no point did the mortgage man ask how we were planning on working 120 miles away!. We did provide wage slips for the initial application but nothing after that.

My point is that if you can afford to be unemployed for a bit, you could sell and buy, then leave your job?

Yes...I've budgeted at least £10k contingency and with a substantial deposit and buying a cheaper property this would be enough to cover 2.5 years worth of mortgage payments...hence my being so bloody frustrated!

Well, potentially the shared ownership place.

My place is going on the market in a couple of weeks, applications for SO open mid April so I'd need to get finances sorted by then.

I just want to have as many components in place as possible either way so I can move quickly on a property if I need to.

Because I'm only looking at a mortgage of about £35k and I'd like to keep something of a safety net in place.

I haven't been rejected. I spoke to someone about doing the financial assessment and was told they would base it on monthly payments.

If I managed to get something in place job wise in the the next month I can still apply for that.

I'm working to repayments of max £300 per month - the aim of the move is to roughly half my existing mortgage payments.

Well in your situation I would just crack on and move then!. Keep your current job to help secure your new mortgage and resign when your new house completes.

I am looking for remote working jobs

I moved several hundred miles between my last job and this one, from a rental to my first property. I got the job first, then used the letter confirming job offer and start date, the salary scales, and my old payslips to get a mortgage. Got a bit close to the wire, but managed to move in before starting.

Thanks - I'm not sure how this will fly but will be catching up with my mortgage advisor later this week. He's aware of the situation and is making enquiries.

Well in theory, but we all know what the jobs market is like at the moment!

So you currently have a job I presume ? Even if you got a job in your location wouldn't any broker want you to be at least six months in the job or have things changed . If you are only looking to borrow £35 would there be alternative lenders. A credit union or bank loan as opposed to mortgage ?