Hi guys, as a reader of this forum for a while now I can't thank you all enough for the invaluable advice and assistance given to members which in turn helps others. Even the Brexit thread has its entertaining moments
We have made the decision to go back to the UK after 6 years in Perth. My 18 year old is already there staying with grandparents having finished year 12 here and has now started college. Thankfully the college accepted him as a non fee paying student. Our house has been on the market since July with not a lot of interest. The market is dire although high end houses are selling, go figure.
After speaking with a mortgage retention officer at the bank who said we should be able to move to an interest only loan, we made the decision to rent the house out for a year, started the ball rolling and both gave notice on our jobs. It would be tight financially but doable. The broker section of the bank have now told us that we can't move to interest only which means that it is no longer financially viable for us to rent the house out.
So we have 3 weeks notice left to work, a house we can't sell or afford to rent out and I can't see a way out. I am so stressed and have no idea what to do. Fire sale the house and cut our losses seems the only way out but even then no guarantees that it will sell.
I'm not expecting someone to come up with a miracle answer, just thank you for listening if you take the time to read. I'm off to bingo with friends tonight. Not sure the $500 jackpot will go far even if I was lucky enough to win it ??