ramot Posted January 30, 2015 Share Posted January 30, 2015 A lot depends on what you can afford to do, whether you need the money from your house to set yourself up in Oz, and how long term you want to rent long distance, because it works for some but some people have had nightmare tenants. we have been renting property long distance in UK for over 20 years and have been very lucky, but we didn't sell originally because we were expats not emigrating, so it was an easier decision. We have always had full management and been very lucky with no hiccups ever. We sold our original house because it was old and needed constant maintenance, and invested in smaller either flats or terrace houses, with minimum maintenance, and have to be honest the income that we get as we have been retired for 12 years is a big bonus, and the rent has always covered any mortgage. Also the properties have gone well up in value, but again we are in a different position to most posters as we are on a long term retirement temporary visa and all our income comes from UK. so it has been the right decision for us to keep property in UK. I honestly don't know if we would have done the same if we had emigrated originally, burnt our bridges or hedged our bets? good luck with whatever you decide. Quote Link to comment Share on other sites More sharing options...
millers Posted January 30, 2015 Share Posted January 30, 2015 we have been on OZ for 3 years and are going back to the UK for a holiday in June ( we haven't been back since we emigrated), we have 3 houses in the UK one is our own house and the other 2 are investments from 10 yrs ago . When we go back we are planning on having a look at all 3 of them and deciding what to do as we have now got our permanent residency and love living in OZ so no plans to return back to the UK to live. We have stuff in the attic space which we will arrange to ship over to OZ now we are settled. Renting was the right thing to do for us to see if we liked it in OZ but we have 3 houses, but all that could change in June...lol Good luck on the move.... Quote Link to comment Share on other sites More sharing options...
fifi69 Posted January 30, 2015 Share Posted January 30, 2015 Wow I am really surprised, I never imagined you even considering something could go wrong in Aus. We kept our rental purely for economic reasons, we had never lived in it but it certainly made returning a lot easier. We were all up for making it work....which thankfully we have done. but we did come on a 457, so couldn't afford to burn any bridges. Now that house, don't even think of it as a home now, will hopefully be an asset we can sell down the line, and buy that nice little cruising boat, for swan river days and Rotto weekends:wink: Quote Link to comment Share on other sites More sharing options...
Beddy Posted January 30, 2015 Share Posted January 30, 2015 We sold our house In the uk 3 years ago well under the asking price as we needed the equity for relocation to Australia.We knew if we had come out here to activate our pr visa and returned we could have sat it out and probably got more .we have no regrets of selling our Uk home as the value of our time spent here far outweighs time sitting waiting for a better price . Quote Link to comment Share on other sites More sharing options...
Scrutineer Posted January 31, 2015 Share Posted January 31, 2015 We sold our house in England a few months before we moved - it was on the market for 18 months and looking like we might have to let it out. Luckily we got rid of it, because the neighbours were absolute scumbags on both sides and opposite and we also made a good profit thanks to Gordon Brown's house price inflation policy. If we hadn't sold it we would still be in a crappy rental here and probably considering coming home, so for us selling it turned out to be crucial. It's hard to believe that crappy little mid-terrace with no garden, scummy neighbours and no nearby amenities at all cost almost as much as our place here in the hills. Staggering. Quote Link to comment Share on other sites More sharing options...
centennial Posted February 9, 2015 Share Posted February 9, 2015 (edited) I guess best bet will be to take buy to let mortgage on it, provided rent covers the mortgage payment. Use the lump sum amount to buy/invest property in Australia. This way rent will keep paying your mortgage and you wont get income tax hit on your rental income in Australia. I paid off my mortgage within 2 years (silly me) and now banks are refusing to give buy to let mortgage so We have sell before moving to Sydney. Edited February 9, 2015 by centennial Quote Link to comment Share on other sites More sharing options...
benj1980 Posted February 10, 2015 Share Posted February 10, 2015 Are mortgage providers happy to offer buy to let mortgages to people living in Oz on PR? Quote Link to comment Share on other sites More sharing options...
srh82 Posted February 10, 2015 Share Posted February 10, 2015 Are mortgage providers happy to offer buy to let mortgages to people living in Oz on PR? In short, no they are not. Negotiate a long-term fixed rate BTL or consent to lease before you leave the UK! Quote Link to comment Share on other sites More sharing options...
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