British Expats - Renting a property in the UK without a job?

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Re: Renting a property in the UK without a job?

Quote:

Originally Posted by rebeccajo (Post 11308958)

Englishmaple -

You moved to one of the more expensive parts of the UK. And you did that because of job prospects, which has paid off for you. The trade off for that is a higher cost of living, including higher housing costs. At least that's the way it works in the US. Really little apartments with high rents.

Once your career boots are on the ground, you'll be able to look around at other parts of the UK. If the housing situation in your area remains untenable for you , you'll have time to assess other areas and career options there.

I think you'll feel a lot more comfortable once you do have your possessions. That helps make things feel more like home. And once you do have a place of your own, even if it's small, your personal belongings will give you a sense of comfort.

It's all an adventure. Try to enjoy it and not fret too much. You've already made great progress. Baby steps. :)

Edited to add - I don't see the big attraction to owning property in old age. At least not for me. I use to think of it as security. But it's all hard work to keep a property up. During the course of my life I've had advice many times from single/widowed women who said becoming a tenant was the smartest move they ever made. It's something to think about as you consider future options. :)

Re: owning property - yes I agree with you - I've never had the urge to own my own property in old age. The only reason I've been contemplating it is because in the UK it seems to be the only way one can guarantee having a sense of security around where one lives (as well as the freedom to make it home). I was very happy renting in Canada because the rental was secure and of good standard.

You are right about baby steps though. I think it's just very hard doing a house share at midlife and, while having my stuff with me (when it arrives) will be nice, the room I have is so very very small I think that most of the stuff is going to remain in boxes and will be stacked against one wall and in the double wardrobe I have in my current room. I barely have space to walk around the bed in my current room but it does have a bit of storage thankfully (under the bed and in the wardrobe) - so I'm hoping I can make it work in the short term because I certainly can't afford the rent on a 1 bedroom or studio in this area or the surrounds.

But right at this minute, I would give anything to have my own space again.

Re: Renting a property in the UK without a job?

Quote:

Originally Posted by Editha (Post 11308998)

English Maple,

I've been thinking about what I'd do in your shoes, because it is a difficult decision between a pension and buying a house or a flat.

Like you, I'd be thinking of moving north if I could because of the cheaper cost of living. I have had the experience of living in the Midlands and know that there are a lot of lovely places to live on the edge of the Peak District.

Whether I moved north or not, I'd lean more towards buying a property than investing in a pension. This is because of my previous experience, that property has always been the better investment. Also , I'd be living rent free in old age, and improving my living conditions right now, whereas you don't see anything from money put into a pension until you retire.

I've not found private pension funds to be a very good investment at all, but my pension from public service is very good. I know that public service pensions are not what they were, but I would investigate the pros and cons if I managed to get a public sector job.

Yes I go back and forth Editha on this. I don't want to end up with secure shelter and no income though - so part of me is leaning towards focusing on building up my pension savings. So much is unknown though - and I think part of the issue for me is trying to just live in the moment at the present and not looking too far ahead. If I stay in the UK longterm then unless the rental situation improves, I guess buying would be the only guarantee of security of shelter.

But I also wonder whether housing prices will continue to rise here? .. I know you're experience has been that property is the better investment but given the current level of salaries and the huge rise in prices around property generally in the UK ... I personally wonder at what point the bubble around property will burst? So very many people are stretched to the max with rental and/or mortgage payments that unless salaries rise a lot, I think a lot of people will be in financial trouble if property prices continue to rise. And I recognise that the SE and London have particular issues but I've also read that property/rental prices are increasing in the UK generally ... and I don't think it can be sustained in the long term given current salary levels and employment conditions.

I guess I will just have to make the best of my own precarious situation with respect to renting until I've got a year of employment here under my belt and have figured out where to settle.

Edited to add: I think coming back to the UK after being away so long has also made me look at the way the UK is structured with a much more critical eye. For example, the class system and all it's inherent historical inequalities really hits one in the eye after living in North America - and I see this particularly in the political system which is full of public schoolboy elites who are completely out of touch with how ordinary people live. I've also been surprised at how much racism and sexism abounds in the UK. In these respects I miss the values that people espouse in, for example, Toronto. Equally, it is nice to live in a place (UK) where people actually rest and don't work 2,3 or more jobs all the time ... but I also hate how the UK (and the press in particular) pathologize the poor as if being poor is a result of being feckless and a personal failing whereas in Ontario (for me) there was much more of a community sense that structural inequalities were contributing to poverty. So there is a lot of up and down feelings for me at the moment being back in the UK.

Also, to add, I do recognise that there are elites in Ontario ... it's just that it seems less entrenched than in the UK, particularly in the Canadian political system.

Re: Renting a property in the UK without a job?

I tried just that,but the agents we were working with would only take the Guarantee if the person or relative was earning a specified amount per year. So I printed out my bank account in the US so that they could see there was income coming in each month, then no problem.