Relocating logistics

[Relocating20]

We’re looking to relocate to DH’s hometown (150 miles north) for more family support and more house for our money.
We have a 3 yo DD who would be starting school in September 2021 so we need to move before then.
We are currently in a fixed rate mortgage that ends in September 2021 so would pay 2% early repayment fee if we sold now, 1% after Sep 2020 (this would be refunded if we were able to find a property within 6 months of selling to transfer the mortgage over)
So our original plan was to aim to move around September, find a short term let whilst we both secured jobs enabling us to be approved to transfer our mortgage to our new property in the catchment area for DD’s new school (before the application deadline of Jan 2021)
However, I’ve recently found out I’m expecting baby no 2 who is conveniently due in September 🤦🏼‍♀️
This means I’d be on maternity leave when we intended to move so we wouldn’t be able to get a mortgage approved as of course I wouldn’t be returning to my original job 150 miles away and my DH doesn’t earn enough to get a mortgage in his sole income.
So we’ve now got three more options:
We could move ASAP- pay the 2% early redemption fee, find new jobs (me whilst pregnant! 😬) rent short term and find a new property to buy in DDs future school catchment area, hopefully within 6 months so we get the fee back and before the baby comes!
OR
Stick to the first plan moving in sep 2020 (with a newborn!) paying and losing the 1% fee, rent for at least a year until I was ready to go back to work and then try find a house to buy on our joint income.
OR stay here until Sep 2021, pay no fee, have a late application for DD’s school meaning she might get in the one we want her to. We both get new jobs, and rent short term before we found a house to buy.
My brain in scrambled and all the stress is making me just want to stay here and avoid all the upheaval and decision making but ultimately I think moving would be the best decision for our family in the long run. 🤯

I think getting the right new jobs is the key - you could rent in a new location then look to buy. Whether you would get the job you wanted whilst pregnant is another thing. And depends on the sector you are in, etc. Probably best to stay put, ensure you go back to work after mat leave for the minimum period you need to then look for a new job and move.

@wowfudge Sorry I should’ve clarified that I don’t need to return to my current job after maternity leave, when I spoke to hr they said I wouldn’t have to pay back my enhanced maternity pay if I didn’t go back as I’ve earned it!
If we stay here any longer than my 1 year maternity leave DD will miss starting school!

Don't move hoping for 'family support' - plenty of examples on here about it just not happening irl..

Key bit of information!

Can you rent out your current property and rent in the new area - you would need to check if you can get permission to let from your mortgage company? Also depend on rental demand where you live now. Otherwise could you afford to rent on dh salary so sell, rent and then buy once you are back at work. Renting in desired catchment so you dont have to worry about that bit.

@wowfudge I thought it was fairly obvious as none of my detailed options mentioned ‘going back to my current job after maternity leave’

@Flutteringsatlast
I suppose that’s true but I only have my dad here who is useless with childcare and DH has his whole family up north.
It’s not only that it will enable us to have a 3 bedroom house with a big garden in a nice area which we can’t afford here.

@RicStar great idea but we need the proceeds of this house for the deposit on the next house we buy. We could probably afford to rent just on DHs income but it would be tight and I hate the thought of throwing money down the drain for a long period when it could be going towards our next house.

I would move now, sort jobs and rent in desired catchment area. Then when DD is settled in school look to buy. You will lose a bit of money on rent to start with but the school admission process will be simpler. I think because you are moving such a long way you should live in the area first to make sure it's exactly what you want.

@waspfig that sounds smart but I’m worried about finding a new job (that entities me to a decent maternity leave) whilst pregnant. 😬

Can you port your mortgage? We are also in a 2 year deal until June 2021 so are porting it to a new property and adding an extra chunk on too. This saves us paying any early repayment charge. I’d look at that and move now!

@AGreatUsername yes that’s one option but we’d struggle getting the mortgage approved on the new property without jobs to go to. So my mortgage company have said I could pay the early repayment charge and if we completed on the new property within 6 months we’d get it refunded hence why we were thinking of a short term let whilst we sorted new jobs.