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Original poster

Is it possible to move house without having any money to relocate?

11 replies

confusedperson · 21/06/2011 15:31

I have a house which I hate, let's say worth 200k. I would like to sell it and buy a property worth 180k. I have no money for selling/buying fees/relocating, hence would need to borrow approx. 10k and repay once having moved.
Is it possible or more like illusion?
P.S. I will never save the needed 10k with 2 small children and DH out of work...

OP posts:
catpark · 21/06/2011 15:51

Each time we've moved the estate agent took their fees out of the sale of the house so didn't have to pay them upfront. Only thing we payed in advance was any surveys we got for the house we bought. We live in Scotland so not sure if estate agents are the same in England etc. though.

We didn't get a removal company either, we hired a van and moved the stuff ourselves.

SparklePrincess · 21/06/2011 15:55

If you sell for 200k & buy at 180k, even with allowing for fee's & stamp duty at a way ott 10k you should still have a surplus of 10k to do the new place up. :)

nulgirl · 21/06/2011 15:55

I think that you can pay most of the fees once you have sold but would you qualify for a mortgage if your dh is not working? Mortgage companies are much stricter about qualifying now for mortgages. How much capital do you have in your current house?

SoloIsAHotCougar · 21/06/2011 15:58

I thought £10k was about right for selling up and moving with a £200k sale...Hmm

Original poster
confusedperson · 21/06/2011 16:01

My mortgage is on my name only and I have good 30% in equity, and my mortgage is portable, and my credit score is excellent - shouldn't be any problems in there.
I am hoping for quick sale so would take let's say 190k. This is because I have found the property I like, yet my house is not even on the market. The biggest problem is where to get the money to pay upfront, for the surveys, mortgage transfer, removal etc...

OP posts:
SparklePrincess · 21/06/2011 16:11

Why the Hmm SoloIsAHotCougar? I personally like to shop around. :) It all depends on how much you pay your estate agents, solicitors & removals really as to the moving costs. EA can be between 2400 & 4800 1 or 2%. Survey 300 to 600. Solicitiors (inclusive of searches) around 1500 to 2k. Removals 500 to 800. Stamp duty 1800. At the highest figures it totals around 10k, the lowest 6500. You have to shop around. :) Its best to overestimate than under.

SparklePrincess · 21/06/2011 16:14

You will need a bit of money upfront confusedperson. Not huge amounts though. Could you not just tighten your belts & pay for searches & surveys as & when? Or stick it on a 0% credit card! As for removals, you can always just hire, or better still borrow a van & do the whole thing yourself. It is possible to do it on a budget. :)

Original poster
confusedperson · 21/06/2011 16:46

Oh no, that means basically I am stuck...

OP posts:
SoloIsAHotCougar · 21/06/2011 17:38

The Hmm was just because maybe I'd got it wrong...

ThunderboltKid · 21/06/2011 17:45

This reply has been withdrawn

This has been withdrawn at poster's request

Ishani · 21/06/2011 17:49

Somebody would lend you £600 for the sake of a few months surely, the estate agents paid my searches when i was taking too long to get my act together and I paid them back after i'd completed.
You never know, ask everyone you can think, not like they don't know you're good for £20,000

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