My current employer is involved in a merger and they were offering a really nice package for people volunteering to leave, because they don't want to have to go to compulsory layoffs. I applied for a package and my application was accepted :-) This means I get 6 months salary tax free, and can move across the country to join my partner, who recently got a job in another part of the UK.
I'm not entirely sure what to do next though. I've got a lot of savings compared to most people my age (35) but nowhere near enough to support myself. I also want to change career path. I've been teaching for over a decade, but the education system is different in England than it is in Scotland and the pay rates are also lower. I'd like to get a programming job, and am happy to take a pay cut (as partner says he can pay most of the bills while I get sorted, since I supported him during his postdoc and I have given up my job to follow him). I'm not quite sure how to go about this though. A lot of employers demand commercial experience and are of the opinion that "those who can't, teach" (which isn't true of me, but not sure how to prove it). We also don't have any contacts in this new town.
The other thing I am not sure about is my investments and mortgage. I own a house with a mortgage, and thought I would be able to get consent to let out the house by paying a small administration fee (I did this the last time I moved, with no problem). But UK banks have really tightened up their lending criteria, and I was on a really sweet deal (2.5%) so they have refused me permission and I have to remortgage to a buy to let mortgage at over 5% interest and pay a large "arrangement fee" of anywhere from £1K to £4K depending which mortgage product I choose. This is complicated by the fact that most lenders now also have a minimum income requirement for buy to let mortgages, whereas previously they were only concerned about the rental income. As I currently have no income, I am worried about my ability to get a mortgage. But houses here are not selling (my cousin's house was on the market for nearly 2 years and she had to accept a low offer when she finally got one) and the rental market is strong, so the only sensible option is to rent it out rather than sell it. Also, we are only renting in the new place and the long-term plan is to move back here so we want to stay on the property ladder. I currently owe £62K on the mortgage. I can easily get my hands on £33K, to pay it down to about £30K (you must borrow at least £25,001 for most mortgages as a minimum), and add my partner to the mortgage is needed. But that would involve additional legal fees and require me to get him added to the title deeds, which would not be fair given that he has not paid anything towards the house, and it would still be my responsibility. The other option would be to also sell most of my shares (which are down about 15% on what I paid for them) and pay off the house in full. I would still have a decent EF left, but my asset allocation would be far too heavy in RE. However, this might be my only option since I currently have no income, even though I am sure I will do soon enough. But I need to remortgage or pay off the house asap for legal reasons and have tenants already keen to move in, and legally I can't let them move in until this is sorted out.
Sorry for the wall of text. Would be interested in any advice about what to do regarding my property and my job search.