We're just about to put our home up for sale in the UK before we depart to Malta (we hope in September, if we find a buyer).
I've had a chap giving some of the rooms a lick of paint ready for the sale. He got me thinking. He wanted to know why we weren't keeping the property, at least initially. The reason being that we could just be entering a property boom (the estate agent reckons the government is stoking the fire for property price rises before the next election).
I hadn't given it any serious thought. I just didn't see how we could keep it. The decorator insisted I investigate every angle! So I did.
It turns out that following the changes announced in the last budget, making things more flexible for pensioners (not that I am a pensioner) however, it is now possible for people up to the age of 70 to get 35 year mortgages.
I did the figures and this means if I had a Buy to Let mortgage of 35 years the rental income should just about cover the payments (actually you can get some very attractive deals for the first 2 years, but I didn't look into the "catch" (like early redemption penalties)).
The thought being that IF the property market does boom in the next few years I could THEN sell the home in the UK and make a bundle. Tempting. But too risky, for me.
Do most people manage to keep a base in the UK? (I know my Mother in Law who moved over to Malta 13 years ago couldn't)
I just wondered if there are others, like us, getting ready to move and again, like us haven't considered trying to keep a base in the UK it MAY now be something that it is possible for you to consider.