Should I move to madeira with my family?

[paige8039]

I'm 35 and single, I rent a room and work in london, my salary is £35,000 a year, my rent is £700 in Clapham, london. I would like to buy a two bedroom flat on madeira for €260,000 with a mortgage and rent out a 1 bed flat owned by my dad and he lives in, I would live with him in the 2 bed and rent out the 1 bed. The salary in madeira is €13,200 and the rent income for the 1 bed would be €8,400 a year.

Sounds lovely. I absolutely love Madeira!

I will bite.
Do you need, and can you get, a visa to live in Madeira? Can your dad do the same?
Do you have the right to work in Madeira?
Do you really think an income of €21,000 would be sufficient to get a mortgage of that size?
The flat is your dad’s not yours so any income from that is his, not yours, so how will you be able to include this in your income for mortgage purposes?

Unless there is loads of information you have omitted, and you should explain if so, then this isn’t happening.

Have a look at replies on your other name change posts for more advice

www.mumsnet.com/talk/work/5280178-should-i-move-to-madeira-portugal-to-be-with-family?utm_campaign=thread&utm_medium=share