Getting a mortgage and relocating

[Cid]

In places I am looking in london prices have gone up 30 k + since August

Everyone I know moves north up the A1 (Shoreditch-Hoxton-Dalston-Tottenham*). Fuck it, just move up the M1.

*Unless they like south london, in which case it's basically mirrored but south of South London is Brighton, which is also not cheap. North there's quite a lot of England left to explore.

 

[smmudge]

Yeah having asked around some more Coventry doesn't seem to have a great rep, though it may seem great to us considering where we live now (not London btw, further south in commuting belt - although we don't commute, which means we're competing with London wages in the housing market). Manchester seems a great choice, the only downside (apart from the weather) is the distance from where we are now and family here, so we're unlikely to go further than that.

We went to the bank yesterday and they were optimistic that we could get a mortgage but what they can lend us leaves us very little choice in the area or even places around it. I would consider shared ownership schemes top get us on the ladder but my gf doesn't like the idea, she just wants a whole property with an upstairs and downstairs and garden.

 

[bi0boy]

Shared ownership is often a bad idea because it can be very hard to sell.

 

[snadge]

Shared ownership is often a bad idea because it can be very hard to sell.

It's even worse than that in reality, even though you may own half, the other half will be subject to ever increasing rent.

 

[wtfftw]

Shared ownership is often a bad idea because it can be very hard to sell.

Not really. Depends but currently demand is massive.

 

[Cid]

Yeah having asked around some more Coventry doesn't seem to have a great rep, though it may seem great to us considering where we live now (not London btw, further south in commuting belt - although we don't commute, which means we're competing with London wages in the housing market). Manchester seems a great choice, the only downside (apart from the weather) is the distance from where we are now and family here, so we're unlikely to go further than that.

We went to the bank yesterday and they were optimistic that we could get a mortgage but what they can lend us leaves us very little choice in the area or even places around it. I would consider shared ownership schemes top get us on the ladder but my gf doesn't like the idea, she just wants a whole property with an upstairs and downstairs and garden.

If I was moving back to London I'd probably go Tottenham, some of my friends own there and prices aren't quite obscene yet, easy commutes too. If you and gf have stable work and good credit banks will be optimistic; they'll be getting a nice percentage out of you for the next 30 years after all.

It's not nearly as much of a leap as you'd think moving north. Most of my family is in the SE, I see less of them (well, I see much less of my mum, but that's because I lived with her for a couple of years before fucking off the whole London thing) but I've always used email/phone to keep in touch anyway. My sister lives in Canada, which is considerably more distant. Might be different if I had/was considering children (er... not that I'm suggesting you are or anything), but even then I think I've come to terms with the fact that the benefits of living here would outweigh the benefits of growing up in London. Also if my family needed more care/didn't have a decent network of friends/other family around them, but even then it would simply be a case of not being able to afford it. I think at some point you have to consider whether you want to live in thrall to a mortgage and the property market.

Visit places is the obvious thing, I'd help you out if you were considering Sheffield but don't know Manchester.

 

[Dharmakhameloen]

Try Kent, Canterbury and Whitstable for starters.

Good luck! Things are still moving fast.

 

[purenarcotic]

Yeah having asked around some more Coventry doesn't seem to have a great rep, though it may seem great to us considering where we live now (not London btw, further south in commuting belt - although we don't commute, which means we're competing with London wages in the housing market). Manchester seems a great choice, the only downside (apart from the weather) is the distance from where we are now and family here, so we're unlikely to go further than that.

We went to the bank yesterday and they were optimistic that we could get a mortgage but what they can lend us leaves us very little choice in the area or even places around it. I would consider shared ownership schemes top get us on the ladder but my gf doesn't like the idea, she just wants a whole property with an upstairs and downstairs and garden.

What about Birmingham?

 

[smmudge]

Shared ownership is often a bad idea because it can be very hard to sell.

I would have thought in a place like the SE it wouldn't be so difficult because for a lot of people (like us) they are the only option. We know quite a few people have done shared ownership, every time we talk to people about it they know someone who's done it. We've also heard the rent is quite heavily subsidised, although having looked it didn't seem that low tbh which is off putting.

 

[smmudge]

What about Birmingham?

We've thought a bit about Birmingham, we should probably visit it before we write it off because we both don't know anything about it really it is good in terms of distance, jobs etc

 

[kebabking]

We've thought a bit about Birmingham, we should probably visit it before we write it off because we both don't know anything about it really it is good in terms of distance, jobs etc

if Birmingham turns out to be your thing then great - big city, massive number of different and diverse neighbourhoods etc.. but for me the best thing about Birmingham is the number of towns/small cities that are 30-45 mins or so from the centre, but which have their own identity and are surrounded by countryside.

 

[smmudge]

Well we went to Manchester to visit for the weekend end of November. It rained the entire time, my partner hates the rain and instantly changed her mind about going there lol. This also had the effect that she was willing to compromise on the size of place we get in return for staying in the area we are now and where we get sunshine occasionally. We've just had an offer accepted on a one bed masionette with a big garden, will be a bit of a commute to work compared to now, but gf's sister is just around the corner

 

[moonsi til]

Congratulations..

 

[Leafster]

Congratulations to you both!

With a big garden I expect to see you on the gardening threads.

 

[wayward bob]

congratumalations smmmmmmudge and ms smmmmmudge xx