Mortgage requirements from Aus to UK

[nicolewood2009@yahoo.co.uk]

Hi, I'm a British expat and lived in Australia for 12 years. We've decided to move back to the UK so both quit our jobs and go in a few weeks. My ideal scenario would be to buy straight up but I'm guessing that would be hard with no jobs yet!? Anyone done the same and have advice? The rental market looks terrible so I really want to buy ASAP!

Thanks

Nicole

[Tulip1]

1 hour ago, nicolewood2009@yahoo.co.uk said:

Hi, I'm a British expat and lived in Australia for 12 years. We've decided to move back to the UK so both quit our jobs and go in a few weeks. My ideal scenario would be to buy straight up but I'm guessing that would be hard with no jobs yet!? Anyone done the same and have advice? The rental market looks terrible so I really want to buy ASAP!

Thanks

Nicole

Assuming you need a mortgage then yes, you will need jobs as you’ll need to be able to evidence the income to afford the payments.  There’s not the longer wait times with new jobs as was once the case.  If you have a contract of employment and are in that employment you should be ok.  If you think you will find employment quickly it might be worth looking at Airbnb rather than take on a rental.  You can often get a descent rate if you commit to a longer period.  Your payment upfront for 3 months is worth the owners offering a lower rate.  

Edited February 7, 2023 by Tulip1

[Jon the Hat]

Usually you need 3-6 months of employment records.  With both of you in new jobs, you might well find it take a while.  Also worth noting that completing a house purchase can take 3-5 months currently.  Not sure why it is so much worse that pre-covid but conveyancing seems universally shite these days.  All in makes sense to rent somewhere with a 6 months break clause.