Quite a hot topic lately this one!
Lots of members with their UK home up for sale at the moment and not having a lot of joy. Comments about dropping the price sometimes by thousands (no pound sign on my keyboard) lol.
I would suggest those of you that really don't want to hang around anymore and just want to be in Oz to seriously consider renting.
For those that do not know and that may have equity in their property, an option is to take some extra borrowing on your property known as a further advance/loan, speak to your Bank fairly easy to do.
I did this just before we came out whilst I was working. You can generally borrow up to about 95% Loan to Value of property (may be a HPLF insurance fee if over 90%)
If you want to buy in Oz then the reason for borrowing this money would simply be to say that it is for a second property.
You could then use this money towards funding a home here and take a mortgage if need be. (providing of course you have an income to support the mortgage here)
The rental market in the UK is extremely buoyant and you try to bring the UK mortgage payments in line with the rental that you are receiving by changing things like the term of the mortgage or repayment method (ie interest only or capital & interest).
I use a management property to find my tenant when I did this and we signed to a 6 month contract, after 6 months the tenant wished to sign another 12 month contract and as she was a very good tenant fortunately, we now do not use the management agency and have saved 100 pounds a month.
Of course this has its risks:
Further price decreases in the housing market, bad tenants etc.
However over the longer term house prices have always gone upwards with extremely good growth and you could save yourself thousands even if you have to maybe pay for a decorator once in a while to tidy up the house etc..
Also you would have the growth on two properties, good investment.
Probably lots of differing opinions on this but thought it might help those that weren't aware this could be done,