FTB - relocating and leaving job

[Amichelle84]

I'm a FTB and when we finally find a new home I will need to leave my job and get something more local.

At what stage in the home buying process is it 'safe' to hand in my notice?

Just had a thought what if I handed it in them the property fell through! At which point is there no turning back?

No turning back is generally after exchange of contracts, although that would only give you a window of a couple of weeks usually.

factors to consider:

• how long is your notice period?
• do you need to keep your job to keep the mortgage offer?
• how long can you afford to live without a job?
• how long do you think it’ll take you to find a new job?
• can you commute from the new house to your old job?
• if not, is there scope to stay on wherever you’re living at the moment until you’ve worked your notice?

If you’re currently renting with eg a one month notice period, and have a one month notice period at work, I’d wait until you exchange contacts on the new place and then hand in your notice for the rental and the job at the same time and move after that. Yes, it’ll involve paying mortgage and rent at the same time for a couple of weeks, but generally would avoid the risk of being left with no home and no job!

I need to give one months notice. So I’m handing it in after exchange of contracts. I don’t have an issue with completion being anytime after exchange.
If you have less notice time, then you could do it a week after exchange for example.

I'm in this exact same position. However my notice is actually 3 months(!) so I think I will hand my notice in once I've secured a new contract, if I get the job. We're hoping to complete in the summer and I would plan to start the new job then. If I had a relatively short notice period then perhaps after exchange would have been ok? Depends on how long the commute would be the other way. Right now, I don't mind having to commute from our current house to the new area for a job, as its doable within an hour.

Thanks everyone, lots of useful points I hadn't thought about.

My notice period is 3 months but I want to avoid the commute for as long as possible but we do need my salary for the mortgage so will wait until we complete I think.

The commute is doable for 3 months and I can use annual leave to make it shorter.

We haven't even found anywhere yet so just thinking way, way ahead.