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Rural living

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Original poster

Logistics of moving and jobs

10 replies

whimsicalwillow · 03/09/2022 13:44

I'm not sure if this is the right place to post this. So apologies if it isn't!

We are planning to move to the Lakes by 2024 ( small child moving too so dates to coincide with them starting school) We are retired and provide some childcare for grandchild. Dd and dsil moving too. Dd is a teacher and dsil in retail. They will need a small mortgage as downsizing, we will buy outright. Do most people find jobs then apply for a mortgage, if so do lenders look unfavourably on new job in approving mortgage? Are they better to rent, start new jobs and then apply?
We've all lived in one place our whole lives, and so had our family and friends so no one to ask for advice. Tia

OP posts:
jiskoot · 03/09/2022 23:47

My DH and I relocated a few years ago and we both needed to have new jobs in place before we got the mortgage approved. The bank asked to see letters confirming the jobs offers if I recall correctly. No issue with both being in new jobs, I would imagine that's the norm with relocations, we had a low LTV though so not sure if that helped...

Original poster
whimsicalwillow · 04/09/2022 00:00

@jiskoot thanks for the reply. Can I ask if you found jobs before you looked for properties?

OP posts:
HeddaGarbled · 04/09/2022 00:06

Yes, jobs first. No point looking at houses you can’t buy yet. You can still look on Rightmove so you’ve got a good idea of what’s available in budget.

TheCumbrian · 04/09/2022 00:18

I groan when I hear of anyone planning to retire to the Lakes I'm so sorry.

Its a lovely place to live if you are fit and well and can drive.

Its also hilly with narrow pavements, poor public transport, poor and overwhelmed hospitals, no young people to do hospitality and care work and no real infrastructure for older people.

so many people retire here. So many. And they are fine for the first 10-15 years and then they aren't.

where has this plan come from? I'm assuming it's not due to a job offer if it's that far in advance?

to answer your actual question though if they already have a mortgage when they move they can just port it to their new property.

jiskoot · 04/09/2022 00:25

Sorry, am just trying to remember, we had a bit more of a unique situation as we had to get a bridging loan secured on our existing flat as it wouldn't sell, this loan was based on our old jobs.

Thinking about it we actually completed in August using the bridging loan, came down for a couple of weeks in September and had interviews etc. Luckily both got offered the new jobs and we were then able to provide proof of this for the residential mortgage and this offer got issued. The flat sold and we moved down, started the new jobs in November and then got the new mortgage at the same time.

I think they'd need to be applying for jobs in the new location and then looking at houses/interviewing during visits and get the mortgage moving once they get jobs. We had to do several long weekends to view houses. May be worth getting a mortgage advisor as ours knew the best way to deal with the timelines and bank requirements.

Sorry if that wasn't much help in the end, it's a bit blurry now as it was 2018 and tbh a very stressful time for us....I think I'd blocked most of it out! :D

Original poster
whimsicalwillow · 04/09/2022 00:48

TheCumbrian · 04/09/2022 00:18

I groan when I hear of anyone planning to retire to the Lakes I'm so sorry.

Its a lovely place to live if you are fit and well and can drive.

Its also hilly with narrow pavements, poor public transport, poor and overwhelmed hospitals, no young people to do hospitality and care work and no real infrastructure for older people.

so many people retire here. So many. And they are fine for the first 10-15 years and then they aren't.

where has this plan come from? I'm assuming it's not due to a job offer if it's that far in advance?

to answer your actual question though if they already have a mortgage when they move they can just port it to their new property.

Oh dear, sorry you feel like that!
This isn't a whim. We have a long connection of over 30 years to where we plan to move, and have thought long and hard about it, thinking of all the issues you talk about.
With regard to the mortgage though, surely you have to provide proof of income to move it?

OP posts:
Original poster
whimsicalwillow · 04/09/2022 00:54

jiskoot · 04/09/2022 00:25

Sorry, am just trying to remember, we had a bit more of a unique situation as we had to get a bridging loan secured on our existing flat as it wouldn't sell, this loan was based on our old jobs.

Thinking about it we actually completed in August using the bridging loan, came down for a couple of weeks in September and had interviews etc. Luckily both got offered the new jobs and we were then able to provide proof of this for the residential mortgage and this offer got issued. The flat sold and we moved down, started the new jobs in November and then got the new mortgage at the same time.

I think they'd need to be applying for jobs in the new location and then looking at houses/interviewing during visits and get the mortgage moving once they get jobs. We had to do several long weekends to view houses. May be worth getting a mortgage advisor as ours knew the best way to deal with the timelines and bank requirements.

Sorry if that wasn't much help in the end, it's a bit blurry now as it was 2018 and tbh a very stressful time for us....I think I'd blocked most of it out! :D

Sorry, it does sound a stressful time💐
As it's 2 families moving we were wondering if it's best that my dh and I buy first and then they move in with us which gives them time to find jobs and the apply fresh for their mortgage. I think actually your suggestion of a mortgage advisor is very sensible. Thank you.

OP posts:
Original poster
whimsicalwillow · 04/09/2022 00:55

HeddaGarbled · 04/09/2022 00:06

Yes, jobs first. No point looking at houses you can’t buy yet. You can still look on Rightmove so you’ve got a good idea of what’s available in budget.

This what we thought. Thank you

OP posts:
outdooryone · 27/02/2023 10:55

Job came first here. Rented for a while. Bought once the job was settled and I was better able to choose exact area / location / house.

treadcarefully · 27/02/2023 23:26

@outdooryone agree we will all rent first and dd and dsil can look for jobs first. Takes the pressure off selling our homes and buying new ones from 150 miles away.

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