neilrufc

Hi,

We have applied via BUNAC for a working holiday which would be valid until end of January 2010.

We have been nieve thinking we could just rent our house out but have now learned that Northern Rock are unlikely to allow us consent to let (have a telephone interview booked with the consent to let department department tomorrow) If they say no which to me looks likely (although the estate agents who we want to manage the house for us seems to think they are not being as harsh at moment), it would mean we would have to sell up.

Now if we sell, I cannot see this being sorted before January which would mean we could travel to Canada due to a massive financial commitment in the UK. I am not sure if BUNAC would allow us re-apply for the following year as we would have wasted the visa (I will phone them and ask later) but has anyone been able to change visas for the following visa or had to cancel before through BUNAC please?

My Wife is in Childcare and holds some good UK qualifications. She has been in contact with several daycare centres in Canada and is in the process of sending her certificates off so she can be certified in Canada.

Childcare is skill level B in Canada but unsure if there would be a different kind of visa that she could apply for that would be longer than 12 months.

My job is in Manufacturing (supervisor) but feel my Wife holds the key to a stronger visa as it's classed as Skill Level B and then hopefully gain a spouse visa for myself. We have a good idea of wages for daycare work etc and if a spouse visa was available, we would live a good life.

With the rules for PNP, I have read visa the Alberta website that you need to be living in Canada for 6 months before eligible to apply (is that right?) if so, that is one hurdle not to look into!

We wanted to go to Canada on a working holiday to allow us to sample working life out there before deciding on settling out there (based on job offers etc). It looked like the perfect scenario. This way would have ment we could just rent our house out and if it did not work out after 12 months, we would still have our house to return to.

I am reading the wiki again but getting slightly confused (proberly because I am very nervous)

Anyone in a simular situation, please don't assume that you can just rent your house out like we have done.

Sorry for the long email but Thank you for reading -

el_richo

Do you have to let Northern Rock know you're renting for the year?

neilrufc

Hi,

Yes, we have read we would be breaking the mortgage contract which - could end up in a huge mess - tennents being kicked out, and dealing with breaching contract terms.

el_richo

Ahh fair enough. That said, how would they know?

I'd be interested to hear how it all goes with you because we have a NR mortgage and are toying with renting over selling when we move to Vancouver next year.

neilrufc

Hi,

I will keep you informed but don't fancy mine and my Wife's outcome at the second. I think we will have to sell but have a redemption fee involved which would eat our small profit. I was toying with asking NR if we could come to an agreement with the redempion fee and pay it over a certain amount of time instead of one lump sum (a loan if you like). We have been good customers to them (not sure if that means anything though)

bodgerx

They could find out through insurance or through any contract drawn up through a letting agency. There are usually clauses in insurance related to any tenants. It would be best to come clean, given the amounts of money owed to the mortgage company and the obligations you have towards them.

christmasoompa

Can you not switch to a Buy to Let mortgage, rather than trying to get consent to let via your current deal? I know it'll mean a higher interest rate, but might be worth looking in to if it lets you go to Canada as planned.

Good luck.

neilrufc

Hi,

I don't think they will let us swap. We have spoke about this today and looks like we will sell. We have an estate coming so hopefully we will take a small profit after NR take there redemption fee. I cannot argue with the fee as we agreed to it at the end of the day but did not think we would move to Canada at the time.

Has anybody ever cancelled their BUNAC visa but managed to reapply. I have read somewhere I am sure. I really need to ring them.

Apart from BUNAC visa, could anyone help regards to any other visa that could help us please. My Wife wants to work in Childcare - good work experience and in the process of getting her qualifications certified in Alberta. Every daycare centre we have spoke to were enthusiastic about a UK national with her experience and qualifications coming to Alberta via the BUNAC visa but now we plan to sell the house, a longer visa would be ideal instead of a 12 month visa and then trying to get sponsorship if we love the life out there. If we did go BUNAC, what option exist out there for us to gain a new visa?

I am about to re-read the wiki as I feel slightly more settled than this morning

ESarge

Play hardball with the bank. If you've decided you definitely want to come to Canada then tell them that. It becomes the bank's choice. Either they agree to having it let out so the mortgage continues to be paid or you'll sell and the bank won't get any more interest payments.

neilrufc

That is a good point, we have the telephone interview tomorrow so will see the outcome of it then. It's this redemption fee that slightly annoys me. I know we agreed to it lol but wow - if only we took a 3 year fixed deal instead of 5 hey - too late to look back mind. I will let you know the outcome of the telephone call tomorrow after my work but nI am not keeping my fingers crossed though.

What visa are you going for esarge?

el_richo

I wonder what they'd say if your property was in negative equity? I'd bet they'd let you rent it out then

neilrufc

Possibly, Thankfully we bought our house 20+k cheaper than the house down the road as the house needed alot of work just to be able to move in. We have the together mortagage had a deposit to put down to start with so borrow a secured amount 7k under what we bought the house for. The rest on top was unsecured and that is being dealt with seperate (as NR confirmed today) - which means if we sell, after the redemption fee we should walk away with a small profit for a new life

eineauslander

I am virtually positive you will be ok to apply for next years BUNAC visa if entry before Jan 2010 isn't poss.

I had to cancel a 2008 BUNAC visa (because I couldn't enter before Jan 2009) and asked the question about transferring it to a 2009 visa - they basically said they couldn't but it was no worries to reapply - you only use up your visa if it actually gets activated on entry to Canada.

neilrufc

Hi,

Thankyou for your reply concerning this. That is good to know!! did you have to pay the same membership fee as when you first applied? I am hopefull we could sell the propertly but it will be on a fine line especially in today's world. It looks like the price's are rising again and banks are being told to start lending - so fingers crossed. In the long run, if it work's, we wont have the burden of sending mony back to cover the rent that won't cover the mortgage, managment fees each month and the insurances required for the property and also landlords insurance. What we earn is ours apart from a few debt's that we have pay - but hey, who don't have debt's

eineauslander

Yep - you have to pay all the fees again unfortunately... I got a £50 refund on my original application fees (fairly sure there are some conditions as to whether you recieve this) but just wrote off the other £150 or so...

Good luck with it all - a year in Banff will be worth the wait...