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shelz

Dilemma's! 9 weeks to go - can we do it:-/

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So... in short we are all booked to fly out end of November, with holiday rental set up, job lined up to start in January on PR visa.

 

All good, we have the visa's, nearly due to put notices in for work, move cube was packed up and collected last week with most our essential items.

 

Last big hurdle -our house... not sold and we were (short sighted i know) banking on it selling to raise the extra pennies for settling in until I start my new job ie. buy 2nd hand car, deposit for a rental and rent up front, mobiles etc, Christmas...the list goes on and although we technically don't need thousands and thousands about 5k would have tided us over. So house sale fell through at this point and only 'settling in money we can raise would be in the next 9 weeks salary - just isn't going to cut it i think :-/

 

Really not sure what to do... I have lots of different options in my head -

best case scenario - we have reduced our asking price on our house again and hope for a very quick sale;

try to get a re-mortgage for a buy to let - but then we would need lots of safety certificates which would cost and end up with no 'lump sum' - unless i found a very good btl mortgage where i could take some equity out of the house;

try to re-mortgage on a residential mortgage and request a small lump sum of equity to help us sell the property and continue to market it and pay the mortgage whilst it sits empty...;

hand the keys back to the mortgage company and go with what we can manage to raise before we go

worst case.. not emigrate in 9 weeks :-(

 

Also I have the move cube which has been collected last week - although not shipped yet and is still in UK - not even sure if i could ask for it back and charges for it! We have paid our £200 deposit and our next payment is due now of £810 before departure...what a mess - dilemma's having a meltdown.

 

Then worst case if we decide not to emigrate in 9 weeks and take a holiday instead (visa validation) work will not allow me the time off (not for 5 weeks) and the children would be classed as missing school, and the payment for flights back :-/ and we will be very sad :-(

 

Any helpful suggestions

 

(Also posted on other site -sorry for duplication)

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Personally, if you have a job lined up and it's definite, You sound like you only have a month to survive with no income ( maybe 2, if you get paid after you work the first month) then I would go for it and stick to your plans. I would save up what you can now, really cut back and i bet you will be surprised what you can save before you leave if you are still earning. Then on arrival, you would have to be strict and not on holiday mode, make packed lunches when you head out for the day, shop sensibly. If you are not acting like tourists, then your outgoings should only be food and transport etc.

 

I think you need more cash behind you on arrival, personally when there are no jobs. As in our situation, we came over with a bit of spare cash, but it won''t last forever. My husband has never been to Oz before, so the temptation has been to sight see, but we have done very minimal stuff unless it's free.

I think if you are money savy you can do it. But that is without knowing what exactly you have got. Would you be prepared to use your credit cards for the short term?

 

re your house dilema, I can't comment on that front, never owned. maybe rent for while???

Just seems a shame if you can't commit now.

Lauren

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Hi Shelz

 

With regards to your house you don't necessarily need to get a re-mortgage for a buy to let. You can get a consent to let from the mortgage company that lasts 3 years then you can either renew it for another 3 years or then sell. The mortgage companies let you do a consent to rent for a maximum of 6 years. That's what we have been told anyway and we are renting our house out.

I hope it all works out for you.

 

Best wishes, Sharyn

 

 

 

So... in short we are all booked to fly out end of November, with holiday rental set up, job lined up to start in January on PR visa.

 

All good, we have the visa's, nearly due to put notices in for work, move cube was packed up and collected last week with most our essential items.

 

Last big hurdle -our house... not sold and we were (short sighted i know) banking on it selling to raise the extra pennies for settling in until I start my new job ie. buy 2nd hand car, deposit for a rental and rent up front, mobiles etc, Christmas...the list goes on and although we technically don't need thousands and thousands about 5k would have tided us over. So house sale fell through at this point and only 'settling in money we can raise would be in the next 9 weeks salary - just isn't going to cut it i think :-/

 

Really not sure what to do... I have lots of different options in my head -

best case scenario - we have reduced our asking price on our house again and hope for a very quick sale;

try to get a re-mortgage for a buy to let - but then we would need lots of safety certificates which would cost and end up with no 'lump sum' - unless i found a very good btl mortgage where i could take some equity out of the house;

try to re-mortgage on a residential mortgage and request a small lump sum of equity to help us sell the property and continue to market it and pay the mortgage whilst it sits empty...;

hand the keys back to the mortgage company and go with what we can manage to raise before we go

worst case.. not emigrate in 9 weeks :-(

 

Also I have the move cube which has been collected last week - although not shipped yet and is still in UK - not even sure if i could ask for it back and charges for it! We have paid our £200 deposit and our next payment is due now of £810 before departure...what a mess - dilemma's having a meltdown.

 

Then worst case if we decide not to emigrate in 9 weeks and take a holiday instead (visa validation) work will not allow me the time off (not for 5 weeks) and the children would be classed as missing school, and the payment for flights back :-/ and we will be very sad :-(

 

Any helpful suggestions

 

(Also posted on other site -sorry for duplication)

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Yup ….. i agree , stuff changing mortgage ….. just rent out and perhaps have up for sale at same time - a few people i know the tenants ended up buying house ! Good luck anyhow ;o)

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So... in short we are all booked to fly out end of November, with holiday rental set up, job lined up to start in January on PR visa.

 

All good, we have the visa's, nearly due to put notices in for work, move cube was packed up and collected last week with most our essential items.

 

Last big hurdle -our house... not sold and we were (short sighted i know) banking on it selling to raise the extra pennies for settling in until I start my new job ie. buy 2nd hand car, deposit for a rental and rent up front, mobiles etc, Christmas...the list goes on and although we technically don't need thousands and thousands about 5k would have tided us over. So house sale fell through at this point and only 'settling in money we can raise would be in the next 9 weeks salary - just isn't going to cut it i think :-/

 

Really not sure what to do... I have lots of different options in my head -

best case scenario - we have reduced our asking price on our house again and hope for a very quick sale;

try to get a re-mortgage for a buy to let - but then we would need lots of safety certificates which would cost and end up with no 'lump sum' - unless i found a very good btl mortgage where i could take some equity out of the house;

try to re-mortgage on a residential mortgage and request a small lump sum of equity to help us sell the property and continue to market it and pay the mortgage whilst it sits empty...;

hand the keys back to the mortgage company and go with what we can manage to raise before we go

worst case.. not emigrate in 9 weeks :-(

 

Also I have the move cube which has been collected last week - although not shipped yet and is still in UK - not even sure if i could ask for it back and charges for it! We have paid our £200 deposit and our next payment is due now of £810 before departure...what a mess - dilemma's having a meltdown.

 

Then worst case if we decide not to emigrate in 9 weeks and take a holiday instead (visa validation) work will not allow me the time off (not for 5 weeks) and the children would be classed as missing school, and the payment for flights back :-/ and we will be very sad :-(

 

Any helpful suggestions

 

(Also posted on other site -sorry for duplication)

 

Thank you for your helpful replies - it really has helped us to think a little clearer about the 'do we go as planned or not' - we have decided it would cost just as much to return to the UK and get our furniture back, as to set up in Oz. So we have decided we will risk it and go for it :-/

 

So we have added everything up we can possibly save (and still pay the bills here until end December including the mortgage) and reckon we could muster up 4K. Not alot to set up but this is worst case scenario and hopefully I start my new job on 4th January - our holiday let will be paid for until 11th January.

 

Think it will be hard though as we need to get a cheap car, find a longer term let from 11/1/2016, eat and sort out Christmas!

 

In regards to the house, we have reduced the price again and if their is no more interest before next week we may look into re-mortgaging, taking some equity and over a longer term to reduce the monthly payments until its sold - maybe we will get accepted/maybe not - but i guess they can only say no...

 

Unable to get a BTL mortgage as with the new rules I would need another UK residential property - so we don't meet the criteria... we have asked if we are allowed consent to lease as a back up - we await the response...

 

At least we are focused in our plans in our goal to go with our original plan and make it work - fingers crossed!

 

Although we continue to be worried...

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Could you change your flights to arrive later and keep working in the uk a bit longer?

 

also when it comes to consent to lease, Halifax made us remortgage and the interest rate went up considerably, so be prepared for an increase in mortgage payments.

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