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LOOKING FOR ADVICE, Massive life change??

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Hi and thanks for your interest in this post. I live with a friend, we have poor financies and live in a house too big for our needs. we have a joint income of around £35k per year but with debts o… Read More
BobIzYaUncle Avatar
5m, 1w agoPosted 5 months, 1 week ago
Hi and thanks for your interest in this post.

I live with a friend, we have poor financies and live in a house too big for our needs. we have a joint income of around £35k per year but with debts over £25k between us excluding my friend's £82k mortgage which on interest only. and only 15 years to retirement.

looking to move from the east midlands to somewhere where we've not yet decided but most probably south coast sometime in next year or 2. the house is currently worth around £140k and looking for smaller joint house around £100k with approx £60k deposit.

problem is, we'd need to sell this house, find a new house and new jobs.

I have so many questions if anybody can advise . . . has anybody else made this kind of move before?

what is your advice?

How did you tie it all together?

any advice welcome, thanks in advance
BobIzYaUncle Avatar
5m, 1w agoPosted 5 months, 1 week ago
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Responses/page:
#1
The best of luck, but moving to the South Coast from the Midlands and finding a 100k house will probably be your hardest task.
banned#2
Sorry to say but moving from East Midlands from a house worth £140k to a house on the South Coast to a house worth £100k isnt going to happen.

Is this a wind up?
#3
We did the move from London to Northants with new jobs, best thing to do would be to find jobs first then move.
#4
Whereabouts are you looking at on the south coast have you actually seen somewhere for £100k
#5
Unfortunately you won't get anything cheaper on South Coast. You may need to look further North to have the chance of cheaper accommodation.
banned#6
archer1204
Whereabouts are you looking at on the south coast have you actually seen somewhere for £100k

Shared ownership? Or 10 months of the year living in a holiday let?
#7
Dude I live in Bournemouth if that's any help and can give you all the advice you need.PM me if you prefer..

Good luck.
#8
we havent looked at any houses yet. its all just a thought at the moment but something we really want. judging by comments I guess a house down south is out the question haha.

We would consider something like a park home as these are much cheaper than an actuall house. im more looking for the advice how it all fits together not which house we would have.

couldnt find jobs 1st as it could takes months for the house to sell and vice versa

thanks for comments so far though
banned#9
BobIzYaUncle
we havent looked at any houses yet. its all just a thought at the moment but something we really want. judging by comments I guess a house down south is out the question haha.
We would consider something like a park home as these are much cheaper than an actuall house. im more looking for the advice how it all fits together not which house we would have.
couldnt find jobs 1st as it could takes months for the house to sell and vice versa
thanks for comments so far though

Go on rightmove.com & draw a map search of the area you are looking at.
#10
We are about to sell everything to move to France BUT we have employment waiting, with regards to the house sale/jobs you may have to take a leap and rent for a while till you find jobs for yourselves. It's all very, very risky and you need to think long and hard about this.
#11
Whats the main reason you want to move from the east midlands then
#12
BobIzYaUncle

Hi and thanks for your interest in this post.
I live with a friend, we have poor financies and live in a house too big for our needs. we have a joint income of around £35k per year but with debts over £25k between us excluding my friend's £82k mortgage which on interest only. and only 15 years to retirement.
looking to move from the east midlands to somewhere where we've not yet decided but most probably south coast sometime in next year or 2. the house is currently worth around £140k and looking for smaller joint house around £100k with approx £60k deposit.
problem is, we'd need to sell this house, find a new house and new jobs.
I have so many questions if anybody can advise . . . has anybody else made this kind of move before?
what is your advice?
How did you tie it all together?
any advice welcome, thanks in advance

What advice are you looking for? selling a property or buying one?

South coast runs from southend in Essex to exmouth ( approx ) hundreds of miles in between.
if its cheap you are looking for then places like margate , chatham. If you are looking for "hotspots" then southend is a good place to buy as good links to london and prices increasing
#14
YouDontWantToKnow
BobIzYaUncle
we havent looked at any houses yet. its all just a thought at the moment but something we really want. judging by comments I guess a house down south is out the question haha.
We would consider something like a park home as these are much cheaper than an actuall house. im more looking for the advice how it all fits together not which house we would have.
couldnt find jobs 1st as it could takes months for the house to sell and vice versa
thanks for comments so far though

Go on rightmove.com & draw a map search of the area you are looking at.


Hiya, as already said not got any perticular area as of yet. was more kind of an example. we do like the east cost also but believe jobs are difficult to come by.
#15
Realistically a house in Plymouth that needs some work is likely about all you will get down near the south coast.

First if you are going to do this.

1) Stop spending on anything you don't need. No booze, no takeaways, walk where possible ect.
2) Pay off as much debt as possible (highest interest first), Balance transfer credit card debt. Use a purchase credit card for buying food.
3) Do bits to house to maximize chance of selling and best price. When done put on market (no rush so get best price). If it sells stay with friends or as cheap place as you can find (keep doing items 1+2)
4) Look for jobs in areas that has housing you can afford and would want to live.
5) Secure jobs and move to area in cheapest accommodation you can find (keep doing 1+2)
6) If happy with job and area look for house (keep doing 1+2)
7) Find house and move in.
#16


Thats great help, I will save that in my quick links for future reference oO
banned#17
BobIzYaUncle
YouDontWantToKnow
BobIzYaUncle
we havent looked at any houses yet. its all just a thought at the moment but something we really want. judging by comments I guess a house down south is out the question haha.
We would consider something like a park home as these are much cheaper than an actuall house. im more looking for the advice how it all fits together not which house we would have.
couldnt find jobs 1st as it could takes months for the house to sell and vice versa
thanks for comments so far though
Go on rightmove.com & draw a map search of the area you are looking at.
Hiya, as already said not got any perticular area as of yet. was more kind of an example. we do like the east cost also but believe jobs are difficult to come by.

Well that is where any search needs to start else you are just going to be weeing in the wind
#18
GAVINLEWISHUKD
Realistically a house in Plymouth that needs some work is likely about all you will get down near the south coast.

First if you are going to do this.

1) Stop spending on anything you don't need. No booze, no takeaways, walk where possible ect.
2) Pay off as much debt as possible (highest interest first), Balance transfer credit card debt. Use a purchase credit card for buying food.
3) Do bits to house to maximize chance of selling and best price. When done put on market (no rush so get best price). If it sells stay with friends or as cheap place as you can find (keep doing items 1+2)
4) Look for jobs in areas that has housing you can afford and would want to live.
5) Secure jobs and move to area in cheapest accommodation you can find (keep doing 1+2)
6) If happy with job and area look for house (keep doing 1+2)
7) Find house and move in.


more kind the answer I was looking for, Thanks. makes a lot of sense.

im sure you can all tell, this is the start of our thoughts and thanks again for the genuine comments
#19
If you are looking at taking out a new mortgage you need to try and get your credit rating up as much as possible . Debts of £25k against an income of £35k is high. Start planning now and do as much research as possible . Good luck with the move
banned#20
psychobitchfromhell
If you are looking at taking out a new mortgage you need to try and get your credit rating up as much as possible . Debts of £25k against an income of £35k is high. Start planning now and do as much research as possible . Good luck with the move

Maybe they have a transferable mortgage. Most are.
#21
YouDontWantToKnow
psychobitchfromhell
If you are looking at taking out a new mortgage you need to try and get your credit rating up as much as possible . Debts of £25k against an income of £35k is high. Start planning now and do as much research as possible . Good luck with the move
Maybe they have a transferable mortgage. Most are.
Talking about going from a sole mortgage to one in joint names as far as I can work out .
banned#22
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
If you are looking at taking out a new mortgage you need to try and get your credit rating up as much as possible . Debts of £25k against an income of £35k is high. Start planning now and do as much research as possible . Good luck with the move
Maybe they have a transferable mortgage. Most are.
Talking about going from a sole mortgage to one in joint names as far as I can work out .

Good point. I missed that.

But (for example) Cheltenham & Gloucs allow you to adapt, add & move.

& so long as the 2nd person hasnt got CCJs.. All is cool.
#23
YouDontWantToKnow
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
If you are looking at taking out a new mortgage you need to try and get your credit rating up as much as possible . Debts of £25k against an income of £35k is high. Start planning now and do as much research as possible . Good luck with the move
Maybe they have a transferable mortgage. Most are.
Talking about going from a sole mortgage to one in joint names as far as I can work out .
Good point. I missed that.
But (for example) Cheltenham & Gloucs allow you to adapt, add & move.
& so long as the 2nd person hasnt got CCJs.. All is cool.
Exactly why I would do serious research. Sounds like a big life change and not something to be done on a whim .
banned#24
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
If you are looking at taking out a new mortgage you need to try and get your credit rating up as much as possible . Debts of £25k against an income of £35k is high. Start planning now and do as much research as possible . Good luck with the move
Maybe they have a transferable mortgage. Most are.
Talking about going from a sole mortgage to one in joint names as far as I can work out .
Good point. I missed that.
But (for example) Cheltenham & Gloucs allow you to adapt, add & move.
& so long as the 2nd person hasnt got CCJs.. All is cool.
Exactly why I would do serious research. Sounds like a big life change and not something to be done on a whim .

Agreed

Firstly look at prices on the South Coast else you are wasting times on dreams x
#25
Please dont move south, its for toffs and rich people that wont give you the time of day. And for 100,000 youd be lucky to buy a garage or 1 bedroom flat.
#26
YouDontWantToKnow
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
If you are looking at taking out a new mortgage you need to try and get your credit rating up as much as possible . Debts of £25k against an income of £35k is high. Start planning now and do as much research as possible . Good luck with the move
Maybe they have a transferable mortgage. Most are.
Talking about going from a sole mortgage to one in joint names as far as I can work out .
Good point. I missed that.
But (for example) Cheltenham & Gloucs allow you to adapt, add & move.
& so long as the 2nd person hasnt got CCJs.. All is cool.
Exactly why I would do serious research. Sounds like a big life change and not something to be done on a whim .
Agreed
Firstly look at prices on the South Coast else you are wasting times on dreams x
I know . Not cheap down there apart from jaywick .
banned#27
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
If you are looking at taking out a new mortgage you need to try and get your credit rating up as much as possible . Debts of £25k against an income of £35k is high. Start planning now and do as much research as possible . Good luck with the move
Maybe they have a transferable mortgage. Most are.
Talking about going from a sole mortgage to one in joint names as far as I can work out .
Good point. I missed that.
But (for example) Cheltenham & Gloucs allow you to adapt, add & move.
& so long as the 2nd person hasnt got CCJs.. All is cool.
Exactly why I would do serious research. Sounds like a big life change and not something to be done on a whim .
Agreed
Firstly look at prices on the South Coast else you are wasting times on dreams x
I know . Not cheap down there apart from jaywick .

Jaywick is on the East Coast x ;)
#28
philhib1964
Please dont move south, its for toffs and rich people that wont give you the time of day. And for 100,000 youd be lucky to buy a garage or 1 bedroom flat.
Might get a nice rabbit hutch
#29
YouDontWantToKnow
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
YouDontWantToKnow
psychobitchfromhell
If you are looking at taking out a new mortgage you need to try and get your credit rating up as much as possible . Debts of £25k against an income of £35k is high. Start planning now and do as much research as possible . Good luck with the move
Maybe they have a transferable mortgage. Most are.
Talking about going from a sole mortgage to one in joint names as far as I can work out .
Good point. I missed that.
But (for example) Cheltenham & Gloucs allow you to adapt, add & move.
& so long as the 2nd person hasnt got CCJs.. All is cool.
Exactly why I would do serious research. Sounds like a big life change and not something to be done on a whim .
Agreed
Firstly look at prices on the South Coast else you are wasting times on dreams x
I know . Not cheap down there apart from jaywick .
Jaywick is on the East Coast x ;)
Way south of me . It's near clacton . That's virtually on the equator
#30
have you checked your credit rating and how that looks? depending on how much your current debt and friends mortgage debt are perceived it may be difficukt to get a new mortgage for the new house. u can sign up on moneysaving experts credit club to do a soft search of your credit score (dont impact rating) to see where it falls on the scale and areas u can improve

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