Site Search:
 
Get TEFL Certified & Start Your Adventure Today!
Teach English Abroad and Get Paid to see the World!
Job Discussion Forums Forum Index Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Students and Teachers from Around the World!"
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Renting out UK house whilst away

 
Post new topic   Reply to topic    Job Discussion Forums Forum Index -> United Kingdom
View previous topic :: View next topic  
Author Message
benny2



Joined: 24 Nov 2005
Posts: 29

PostPosted: Tue Aug 01, 2017 6:52 pm    Post subject: Renting out UK house whilst away Reply with quote

Hi everyone,

I spent almost 3 years teaching English in China around 2005 - 2008 kind of time. I then moved back to the UK, and have been working there ever since in a different field.

My employer sent me on a posting to China for most of the last year, which I really enjoyed, and although there is the possibility of staying for another year, it probably wouldn't be longer than that.

I've long since been tempted to return to China to teach, as I miss the lifestyle, the place and the people 😀, and find my job here a bit boring.

I have a mortgage in the UK. I was wondering if anyone has received consent to let their property from a mortgage lender to go and do this? I wonder if I would no longer meet the lending criteria under these circumstances (if say, for example, I was employed by a Chinese university). If I didn't still meet the existing lending criteria, I wonder if they'd grant consent to let. I'd need to let it out to keep paying the mortgage. I intend to ask the lender, but thought it would be good to get a heads up from ESL teachers who've tried this.

Also, what percentage of income / amount of money are you allowed to send home from the PRC?
If the above were possible, I'd like to also make additional overpayments and keep up with national insurance contributions.
I've tried Google but have seen varying explanations.

Thanks for any information any one may have!
Back to top
View user's profile Send private message
Moma



Joined: 26 Jul 2017
Posts: 4

PostPosted: Wed Aug 02, 2017 11:29 am    Post subject: Reply with quote

You could rent it informally to someone you know and trust well, but to do so above board, the lender would require a different type of mortgage such as a buy to let. There would also be insurances and other hassles. For only one year, it would be a lot of work with not much return.
Back to top
View user's profile Send private message
scot47



Joined: 10 Jan 2003
Posts: 15086
Location: Respice post te! Hominem te esse memento! Memento mori!

PostPosted: Wed Aug 02, 2017 7:15 pm    Post subject: Reply with quote

Not worth the hassle. How will you find a reliable tenant ? Who will take care of things when you are in the Orient ? What happens if you get bad tenants ? Or for that matter good tenants with whom you have a dispute ? Who will organise repairs and maintenance ? Who will make sure that it is not being turned into a house of ill-repute ?
Back to top
View user's profile Send private message Visit poster's website
Moma



Joined: 26 Jul 2017
Posts: 4

PostPosted: Wed Aug 02, 2017 8:56 pm    Post subject: Reply with quote

There are agents who look after rentals, and do they charge a fee to do so. Even they may be reluctant to handle a twelve-month let as there's not much in it for them.

Assuming renting doesn't happen, aren't there still insurance issues with leaving a property empty for such a time?

I'd be worried about burglary too. What you can do is have an alarm installed which is connected to a phone app. You can see false alarms, turn it on or off and even see if a particular door or window has been opened.

Sorry for negativity but hope it works out.
Back to top
View user's profile Send private message
ISSAKAB



Joined: 12 Feb 2013
Posts: 34

PostPosted: Mon Oct 09, 2017 8:36 pm    Post subject: Reply with quote

Bit late for a reply but I had no issues getting consent to let from the building society several years ago. I've had a house let out since 2011. They don't seem to give a **** so long as the mortgage is paid.
Get a really good letting agent to manage the property. They will work for both tenants and landlords, long term. Apart from credit searches they should not be charging fees to the tenants Decent letting agents will have excellent tenants lined up, ready and waiting for the best properties. A decent landlord won't have trouble finding tenants and vice versa. The agents will take a fee but they will save you a lot of hassle and are well worth the minimal expense.
Back to top
View user's profile Send private message
Mikalina



Joined: 03 May 2011
Posts: 140
Location: Home (said in a Joe90 voice)

PostPosted: Tue Oct 10, 2017 3:22 pm    Post subject: Reply with quote

Letting fees for the tenant still apply in England. The average is £223. A consultation paper was put out in April, after Betty's speech and then:

"The government is keen to engage with the sector and will host a number of workshops, in various venues throughout the country, to discuss the consultation and the implementation of the fee ban"

Translated, this means that it's in the long grass and likely to stay there for a while until the plebs have calmed down and forgotten about it.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    Job Discussion Forums Forum Index -> United Kingdom All times are GMT
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


This page is maintained by the one and only Dave Sperling.
Contact Dave's ESL Cafe
Copyright © 2016 Dave Sperling. All Rights Reserved.

Powered by phpBB © 2001, 2002 phpBB Group

Teaching Jobs in China
Teaching Jobs in China