Keep or sell in UK?

[Guest hazel and dave]

Hi all,

 

I'm a bit new to this business, so excuse any gaffs in advance. We were just granted our visa (2 days ago) ULP! So now we are considering our options. We would like to keep our house in UK and rent it out (we only have 2 years left on the mortgage here and we feel it would be a good investment), but that would leave us with limited capital to set up over there - £20k max. We really don't know which way to jump. We have no kids as yet, but would like to buy a family home at some point- looking to the future! Would that be possible somewhere in Victoria, not Melbourne necessarily.

 

I'm a teacher and my husband is a practical buildery type chap - can turn his hand to anything,but has done windows and conservatories for years - if that has any bearing on the matter.

 

Help!!! Anyone got any ideas?

[Generalis]

What about releasing some equity and then if you rent it out it will cover any mortgage you have on the house. Also you will have some money to purchase in oz?

[Guest hazel and dave]

That sounds like a good idea, the only being the mortgage is with the bank of dad! will have to look into that one!

[Quoll]

All depending on where you need to end up for a job, you can get some really nice properties in Victoria for very little but you have to want to live way out in Woop woop (very small communities, miles from anywhere). We have been looking at places in Orbost where your L20K will go a lot further than anywhere in Melbourne or even bigger towns like Ballarat and Bendigo. If you an release some equity in your UK house, I would do that and, having the perfect vision of hindsight, I wish that we had been able to hang on to our house when we left UK because it would have been a fantastic investment. Unfortunately, we were penniless and needed all we could get for it.

[Guest kevinboomer]

Bloomin Hell!! What a perfect position!!

 

I had kids first at 22 and 28. then got mortgage and then told OH we were getting married in 2000 (romantic not!!) Your world is your oyster!!!!

 

All the best for your fantastic future!!! (wish I had thought first) Lisa xxx

[Guest hazel and dave]

Awww, thanks! And as it would have it, we are just down the road from you (Kevinboomer - Lisa) in POmpey. Think we must have visited the same places for medicals etc - wasn't he a strange, but likable chap! Did Kevin have to prance about in his undies, whilst you stayed fullly clothed?!? Stay in touch and thanks for your good wishes.

 

....and thanks Quoll - will get on realestate.com.au and have a look. Cheers!

[Guest kevinboomer]

Play up Pompey!!! oooh hello local ones!! My son trains at Milton Cross school for Portmouth Football Club every monday!! So yes our paths have probably crossed!! Any decisions yet about the house and when you're likely to go??? We're aiming for Brisbane, just waiting for our visa's to be granted, my OH is a chippy and I'm a carer but am hopefully going to look for a career back in the office environment who knows I just want to get over there!! All the best and yes keep in touch too!!! Lisa xxx

[Guest hazel and dave]

We are currently conducting high level negotiations with the Bank of Dad reagrding the release of some equity.... we shall see!! Heading for Vic prob - we have alot of friends in that area and we think that will be important at first. We can always relocate later if we feel the urge.