LostBrit99

Your options from what I have seen from other people in the Usa and Uk is....stay where you are until house prices go up....go bankrupt....take out a loan to cover the difference....walk away....or find a rich lover that will pay the difference That last choice is the hardest one

cityboys1911

we intend to go back to the UK next year around August we are finding it hard to live here now we have retired and we want to be nearer our Families so I don't think the prices will go up enough to cover the mortgage

Giantaxe

It also depends on the state. Some are "non recourse", which means that the bank's only redress is to take possession of the house. Some are "recourse" which means, theoretically at least, the bank can come after you for any deficiency beyond what the house is worth. But as has already been alluded to, banks often don't pursue anything as the person can declare bankruptcy etc.

LostBrit99

I cant believe the prices of house rentals in the Uk. My friend in the Uk is viewing houses for me and the attitude of the owners and the agents, omg, like they are doing me a favour. We are paying for their services not the other way round. Its all so expensive to where I am now

Flying Enterprise

LostBrit,

Have you moved back to the U.K. yet, as I have also been looking at rentals with all the hurdles, No pets, No DSS, etc etc etc, we are pensioners and have a couple of small dogs, you feel is if you have the plague or something!!!

Just want somewhere quiet with a small garden, ( I have a Lawnmower!! )

Jenny Gumbley

We will also rent and leave our money in South Africa for a while as the interest rates are so good here. Also depends where we find work. We have a dog cat and a horse lol

Mary C

I am returning in the new year and will be on the long term rental program. I don't think I will ever be in a position to buy a house again but I am considering buying a 'static caravan' or 'park home' at some point in time. It looks like my daughter has already found me a place as she has a friend who is buying another home and wants to rent out the house she already owns. The friend is happy just to have 1 month rental as as deposit which is fantastic. As much as I know by paying rent you are just paying off someone elses mortgage, I am happy not to have the stress of 'home ownership' again well for the foreseeable future at least.

Flying Enterprise

We have a House in a complex that we rent out, the young couple who live there want to buy,. but have not got the deposit,

We were thinking of continuing to let it out, and repatriate the rent to the U.K on a regular basis,

Re moving there is a company called Seven Seas who operate the ''Move Cube'' which would be ideal for us, as we would only take the bare essential's but unfortunately I don't think they operate from South Africa, (more's the pity) as that size would be ideal.

Mary C

I am using Bayley's international and as I am only taking a small amount back I am doing a 'shared container', 3 cubic meters for R10,000 +/-. I decided to sell my house as it is the only way I could get back to the UK. It was on the market for less than 3 weeks.... that came as a bit of a shock. All docs are going to the deeds office next week I think. I suppose that this time something will work quickly in SA and the darn transfer will go through quickly hehehe. when I could do with a few more weeks to get organized. But what will be will be.

fulwood

I seriously doubt I will be able to afford a house when I move back. Plus I'll be in my mid 50s so don't want a mortgage and think UK is strict on giving folks mortgages beyond a certain age.

Brittwit

Yep, no intention of buying a house either. Maybe even considering a motorhome so that living/travel is an option

Flying Enterprise

Wow! that was quick, thanks for the info on the move, will definitely contact them when we are ready.

As of now, have not even put our house up for sale. but after your experience, will have to have all our ducks in a row first.....

Mary C

Hi FE, yes PLEASE get all your ducks sorted nicely first!!!. Please tell Brenda (Bayley) that I pointed you in her direction. She is a star and I have known her for the past 17 odd years. Normally by me sending her clients who are going to live in Australia and now I am one of her clients.

I was 'gobsmacked' at how quickly the house sold, but as they say, right price, right time. I would have liked to have got a little more but I had to be realistic. The house needs work so I had to weigh up the pros and cons.

I did relent yesterday and purchased a new 'loo seat' hehehe. What has blown me away was the cost of the electricity compliance certificate. It appeared I had to have quite a bit of work done to bring it up to standard and R13000 later......

You will also need to have a set of your house plans for the purchaser. This is not 'law' yet!, but they build this into the 'offer to purchase' as the banks are not asking for these as part of the bond approval for the purchaser. This was a story on its own. I thought I would end up paying thousands of Rands to have a new set drawn, but fortunately a very nice lady at the planning department managed to find them on her 'system' and R20 later I came out with the 4 pages of plans, but this took me 5 weeks to sort out... well no, it took 4 weeks and 6 days for the lawyers and estate agent (who had CONTACTS) to advise that they were not successful, and 'here's the name of a good daughtsperson' (who can do them for R20,000). So I did one trip to town, one conversation at the public library to find out where the planning office was and hey presto....R20 and all finished in less than an hour.

You will need to pay 3 months in advance on your electricity and rates, and claim back once transfer has gone through. I told the lawyer to 'stuff off' pay it and take it out of the funds on transfer. Same with the electricity compliance certificate. Got a letter of intent from the lawyer and the electricians bill will be paid at the end.

I am beginning to wonder if I will come out with any money at all!!!!

I created a 'to do' board. Wrote down on pieces of paper all the jobs that need doing and by WHOM (as there are 6 of us in the house and I am NOT doing everything).

I sat for hours, each job on separate piece of paper, and who's job it was. As the job gets done the piece of paper comes off the board. It has really worked well for us. But I note that while I had the most jobs to do, my section has greatly reduced..hmmmm me thinks it is time to start kicking some but with everybody else. mind you 2 of the 6 are only 2.5 years old and 3 months so I suppose 'make sure dummies and nappies are packed' under Jenevieve and Jose, will be a bit difficult to chase up.

Have a great day, and 'enjoy the ride'.

bigglesworth

Just a thought, if you are the travelling kind. Have you thought about a canal boat? They are just as mobile.
Some people later on have both - static caravan in Spain and narrowboat in UK.

Mary C

I also thought about a narrow boat on the canals of the UK. I did a weeks holiday on the canals many years ago and had a wonderful time. I wont discard the idea entirely, but perhaps will do a few holidays first to see if the life style would be for me... but the idea of parking outside a nice English pub each evening does sound rather good...hot summers and cold beer, cold winters and nice hot roaring pub fires......