LostBrit99

I am considering moving back to the Uk after 14 yrs but I wont be able to buy a house without a mortgage and tbh I dont know if I would want to have a mortgage as I would be tied down then.

Is anybody going to return to the Uk knowing that they will rent on a very long term basis, or permanently?

If so, how do you feel about that?

Thanks in advance

Bnet36

We don't plan to buy when we get back. Not for a few years anyway. Yes house prices will continue to go up but hopefully so will our salary. Rushing to buy will tie us down and since we will move to wherever I get a job, renting will give us flexibility should we not like where we end up. Also, I am a little tired of home ownership and all the additional costs.

cityboys1911

Re buying a house we plan to move back to the UK next year after 12 years in the US when we go back we plan on long term rental, we too have had enough of buying. We already started looking at rentals online so it will give us an idea as to what it entails but we are looking at village life we have had enough of the hustle and bustle and we are ready for a quiet life now we have retired.
Dave

LostBrit99

I can understand long term rental especially after travelling for so many years. I hear so many horror stories with mortgages and bank reposessions and then being tied to one place incase it goes wrong. There is just so much pressure on to own your own home and to conform etc etc....

fulwood

I would do a long term rental as well. If I move back to UK I don't think would have money to pay for a house. I have 2 dogs. I can't move though for a while until my finances are in order. But as we all know things can change and we never know what is around the corner.

Sally Redux

Well we'll need a mortgage.

Renting certainly has its attractions, I felt trapped with my last house.

LostBrit99

I have the money for a deposit but I dont think I want the stress of a mortgage or feeling tied down even though I would like it to work in the Uk. Anyway I am told that alot of people just rent nowadays and that many cant even get on the ladder and looking at the prices I am not suprised!

windsong

I will be renting over there. I will be traveling a bit and may move within the UK anyway so I don't want to be tied down to a mortgage. Having said that, it is expensive to rent over there and I don't think renting is as secure (re the laws) as renting in Canada and the USA.

TheLonestarBrit

I'm moving back the end of August. I will be staying temporarily with my parents, but then will look at renting. Owning a home would be nice if I find the right place to settle, but to be honest I think I'll just stay renting as it offers more flexibility. I'm 32 this yr and have never owned a home in my name (my husband did briefly when we lived together in Texas). Renting is not too bad really, but more than that I know I won't qualify for a mortgage for a long time! I'm happy renting though, gives me the option of trying new places without committing to anything. My parents have rented in Britain for the past 20 yrs so it's not like I'm new to rental houses....my parents are rather good at finding places and making deals with the landlords

Dashie

If we moved back, we could not afford to buy a house. My hubby gets paid a lot more (approx double) here than he would for the same job there. With all our savings, looking at mortgage calculators, we'd be trying to find a 4 bed house for under 70k It's a big part of why we haven't done it.

LostBrit99

Thats how I have felt. Its why I have procrastinated for four years and it has to stop lol

JRuss87

I won't be able to purchase a home for some time, I'll have no credit history when I arrive and minimal savings.

But who knows what the future will hold !

LostBrit99

Hopefully it will hold all things good for all of us brave enough to go back to our roots

MrMuffin

We have no choice but to rent for a couple of years. We bought here on the USA East Coast at the worst possible time in 2004. Since then we've been through a couple of nasty economic downfalls but even though we kept up with our mortgage and even refinanced for a shorter term, we are still selling for less than we bought for and will be lucky to come out with anything... and that's after 10 years! So we'll be licking our wounds for a while and we'll rent and try and put some savings together. We'll have to wait and see what happens. It'll just be great to get back home closer to family again.

cityboys1911

we have the same problem we will be lucky too are you walking away and not making anything will you still owe on the Mortgage, we are going to rent when we go back I don't want the hassle of a mortgage again and anyway we are too old