What To Do With £100k??

[GT03ROB]

Unless you know you will never return keep your/a UK property. You never know how being overseas will work out or how permanent it will be. People in my game have sold up in the UK, then returned after a few years & all the money they banked working overseas has gone buying the same property as they had when they left.

[anonymous-user]

Like 308ROB i've lived overseas for years, what ever you do keep the house for 12 months, you may hate living abroad.

[dingg]

on the other side of the coin people I know have invested here in portugal 4 years ago and sold up recently realising a 45% gain

you pays your money and takes your chance

[SiT]

I think my initial thoughts after all the pointers is that we will rent our house out for first 12 months or so. We live in a small village in Somerset which is very popular and lots of people moving in to benefit from local school system.

The rental would more clear the mortgage and it gives us a chance to settle and see if the new life is for us. I can then review it in 12 months time and see where we are at. Lining the pockets of solicitors/estate agents to the time of £20k doesn’t really appeal especially as it means we take a foot out the UK housing market.

Certainly loads of good ideas and things to consider that I hadn’t thought of. In terms of our existing mortgage then, we need to check to see if they (Nationwide) will allow us, if they don’t is it then an altogether new mortgage or will we just have to change our product??

Si

[h0bbsy]

Nationwide should give you consent to let. You won't be able to change deal whilst on it however and they'll also load your current rate by 1 percent. The max period they give each time you ask is 3 years.

[Zoon]

SiT said:

Now neither of us have a pension

I'd try and get one for the tax relief alone, especially at 37.

[pete_esp]

Also bear in mind that living on Jersey is quite a bit more expensive than life in Somerset.

I'm sure you've looked into all of this but the cost of property (renting & buying) in Jersey is high and you won't be able to buy unless you have your "Qualies" or commit to paying a significant amount to the state every year. Maybe different now, I'm sure there are more knowledgable folks on this forum than me.

It's a great place though, I loved my time there and considered moving back after graduating however the pay for firmware engineers on Jersey when I looked was pathetic.

+1 for keep the house, the extra income may come in handy.

+1 for pensions too, especially if your employer also makes a contribution.