the4ofus

Oh I feel like I'm banging my head off a brick wall

Last week I spoke to the bank that we have our mortgage with and was told that we could apply for a further loan on the mortgage, then swith to interest only payments and then they would issue us with a letter allowing us to let it out for 12 months. We need the extra money to move.

Anyway, phoned this morning to start the ball rolling only to be told that we cannot borrow if we are going to let out - WTF

Anyone any other suggestions other than robbing a bank????

Lynn xx

markandgill

Sorry to hear that Lynn.

The only thing I could think of is to switch mortgage providers.....I believe there are buy to let mortgages around so I am sure this would suit.

Good luck

Mark

the murrays

just tell them you need it for home improvements, and you arent planning on staying in oz due to circumstances, but may do in the future. Then once you get the cash tell them you have 1, decided to rent it out, and 2, you dont have to tell them you are renting it, but it probably would be for the best. or as gillian said remortgage, when do you have to be there, as this would only take 6 weeks. Dont tell them about immigrating until everything is through, make sure it is a mortgage your not tied into though, in case you sell. This will cost you a redemption from your old mortgage, so try your own bank again first. Hope it all works out for you.

the4ofus

Thanks Mark & Caroline.

Have spoken to my friend who is a financial advisor and he told me to say its for home improvements too but then what if they dont give me a letter to let my house out for 12 months? Staying with our mortgage provider is definately the best option as it will save us about 3 grand of "opting out early" fees. We have a 5 year fixed rate at the minute.

FA also said I don't have to tell them but make sure to have landlords insurance.

Lynn xx

the murrays

Banks usually do for situations like immigrating, explian that husband has to go with his job or something. Immigrating would be probably the only way they would give you a letter and agree to letting.
Mc gimpseys worked out expensive didnt they pickfords, will probably be £100 or £200 cheaper, they told you £500 cheaper than me though, maybe there prices have came down, as there is noone moving.
landlords Insurance is cheaper than Banks, Im going to pay both
Have you voted for Peter yet, please do he needs support?
Thanks

camacazi

lynn, you got the wrong name again

seriously though, hope you get it sorted, it will all work out in the end

the4ofus

Oops I meant Siobhan

Sorry

Siobhan are you renting out your house too, have you got a tennant yet? Who are you using for shipping? And one last question "landlords Insurance is cheaper than Banks, Im going to pay both" Do you mean a secured loan as apposed to an unsecured loan when you say this?

Lynn xx

the murrays

Hi lynn
have someone interested in renting, not to sure about them though, asked how long we would rent it for, Mark said 6 months, and she give a look, Mark asked how long would they like to rent it for, she replied till she got carried out in a box, this sort of scared me, as we would have problems of getting them out, if our Buyer sells his house. Hope someone else comes soon to veiw.
I mean I will pay the 2 Insurances, Mark said that would be stupid, the landlord insurance wasnt too much, though.
Dont worry just go back and say you might stay, and get the further advance for home improvements, you are entitled to change your mind. They shouldl give you the letter for immigrating and renting.

katcam

Hi everyone!
Just came across this site whilst researching Perth. OH has been offered a job there on a 457 visa and we are waiting for it to come through. Meds etc have been sent. Can anyone recommend a good (and reasonable) removals company in Northern Ireland? Weve decided to rent our house as we havent a hope of getting it sold at the minute. Is anyone moving to N. suburbs of Perth or already there? Any advice would be appreciated. Panic stations here as one day we cant wait to go and the next we are looking at family and friends and thinking are we doing the right thing? Anyone in the same boat?

the4ofus

QUOTE=katcam;6412830]Hi everyone!
Just came across this site whilst researching Perth. OH has been offered a job there on a 457 visa and we are waiting for it to come through. Meds etc have been sent. Can anyone recommend a good (and reasonable) removals company in Northern Ireland? Weve decided to rent our house as we havent a hope of getting it sold at the minute. Is anyone moving to N. suburbs of Perth or already there? Any advice would be appreciated. Panic stations here as one day we cant wait to go and the next we are looking at family and friends and thinking are we doing the right thing? Anyone in the same boat?[/QUOTE]


Welcome to BE Katcam,

Where are you in Northern Ireland? We are in Newtownards looking to move to Sunshine Coast in the very near future. We too are going down the renting out route - house has been on the market since August 07 with only 2 viewers :curse:

We had McGimpseys round last Monday for a quote - £3990. Pickfords are coming next Monday, hope they can beat it!!!

I think we all have our wobbly days, at the beginning of the week I had one but we just need to keep ourselves busy and get on with the preparations.

Good luck with your move,

Lynn xx

camacazi

hi katcam, welcome to be!

we are hoping to move to sunshine coast as well.
i know what you mean about leaving family, i think we are all the same, only a couple of weeks ago i was having a bit of a wobbler
but i know if we don't do it now we wil always regret it, whats the worst that can happen? we can always come home again if it doesn't work out.
have you any children?

the4ofus

Hi Caroline,

Isn't the weather just lovely? Are you going to spend the weekend painting the house again?

I phoned our original mortgage lender this morning and have the pre-approved loan so at the minute all is going according to plan

My stupid niece od'd yesterday and is in hospital in icu :curse: Silly wee girl.

Anyway, have a lovely weekend and don't work too hard.

Lynn xx

camacazi

hi lynn

yes, more bloody painting:curse: seems like we'll never be ready to put the house up, and we thought we had hardly anything to do!!

glad you got the mortgage sorted

hope your niece is ok.

ricky-sonia

Hey people , aint been on here for a while but contracts with hospital in perth all sorted registration with nurses council complete just a matter of wainting on visa , and the hospital is still very confident they will have us there in January....... Cool thing is we have our holiday booked and paid for , going on 30th August spending 5 nights in Dubai and then fly on to Perth for 12 nights before flying back home, gonna see the hospital , look at housing and areas and look at some schools , see what the price of cars , food etc are .. Is there anybody out there living in Perth that whould wanna meet up for a day so we can get some good info, let me know
thanks

markandgill

Hi everyone

Well it is now official we are 136 visa holders!!! Got the passports back yesterday with visa stickers in, it actually feels real now. Australia here we come (if only we could sell the house eh )

Gillian and Mark