Relocating to a different area in the UK is a big decision and one we are seeing more and more clients explore. Whether you are moving for more space, better value for money, lifestyle changes or family reasons, planning ahead is key.
In this video on our YouTube channel, we share both our personal experience and professional insight to help you understand what to consider before relocating and how to prepare from a mortgage perspective.
Our own relocation experience
We have been through this ourselves, relocating from London to Reigate, Surrey. Like many of our clients, we wanted more space, a different pace of life and better value for money, while still remaining well connected.
That personal experience gives us a real understanding of the emotional and practical considerations involved when moving to a new area.
Research is essential
One of the most important steps when relocating is research. This includes looking at property prices, what type of home your budget will stretch to, and how far your money will go compared to where you currently live.
Property size, outdoor space and long term value are all things to think about. A relocation can open up options you may not have previously considered.
Being realistic about day to day life
It is important to be realistic about what life will look like in your new location. This includes commuting times and logistics, your place of work, schools, amenities, safety and general day to day living.
Even if a property looks perfect on paper, it needs to work for your lifestyle in the long term.
Popular areas clients explore when leaving London
Many of our clients are moving outside of London into areas that offer more space and better value while still maintaining good transport links. Surrey is a popular choice, along with other commuter friendly locations where quality of life is a key driver.
Every client’s priorities are different, which is why there is no one size fits all solution.
Flexibility when working remotely
If you work from home or remotely most of the time, having a flexible outlook can be hugely beneficial. You may have more freedom to consider areas that were not previously an option.
That said, lenders still want your move to be realistic. They will look at the postcode of the property you are buying in relation to your workplace and working arrangements.
How lenders view relocation
From a mortgage perspective, lenders want to understand that your relocation makes sense. They may assess the distance between your new home and your workplace, especially if you are required to attend the office.
If your salary is changing as part of the move, it is essential to be transparent with your broker and lender. Any change in income needs to be factored into your mortgage affordability.
Planning ahead makes all the difference
Relocating is about more than just finding a new home. It is about planning ahead, understanding the financial implications and following the right steps to get there.
With the right guidance, relocating to a new area can be a smooth and positive process as you move into your next chapter.
How we can help
Seeking advice is always the best step forward. As mortgage brokers, we guide you through the relocation process, explain what lenders will look for and help you prepare properly.
If you are considering relocating to a different area in the UK and would like support with your mortgage planning, we are always happy to help.
Watch the full video here.
