A British household have saved themselves £293,000 after ditching their two-bed rental residence for a two-acre plot of land overseas.

Lewis Vye, and his spouse, Jordan, each 31, determined to depart their households and transfer overseas after struggling to discover a mortgage they might afford.

Successive Bank of England Base Rate rises have despatched mortgage charges rocketing for the reason that begin of final yr and with a two-year repair at present averaging above six %.

The pair realised a mortgage within the UK would price them round £300,000 which might solely deliver extra monetary pressures.

After having their son at 19, they moved right into a flat they “couldn’t afford” and didn’t wish to take out a mortgage that may trigger them the identical stress.

Ms Vye bought the concept to maneuver overseas from a pal who informed her she had purchased a home within the nation for simply £3,000.

After mulling over the concept and continuously checking Rightmove for properties, Mr and Mrs Vye purchased a two-acre plot of land which included a three-bedroom home, a barn and outbuildings for simply £7,000 – method cheaper than the £300,000 mortgage they have been dealing with within the Bournemouth.

The couple moved 1,788 miles to Haskovo Province, Bulgaria, in June 2022 - with their two kids, Leo, 11, and Fae, two.

The pair defined their high quality of life has improved since shifting as they've extra time to spend with their kids and with one another.

Ms Vye stated: “We were really struggling with the whole mortgage thing. We had our son at 19 and moved into a flat that we couldn’t afford, it all started from there.

 “It set our path for never being able to get a mortgage - it was a really big thing of owning our own home. Even with two wages, it wasn’t something that seemed achievable for us in the UK.”

 They have been capable of buy the home in Bulgaria for £7,000 utilizing their financial savings, one thing they by no means thought they might have the ability to do.

 Ms Vye added: “We had always wanted to live in the countryside. In Bournemouth, if you want a house in the countryside, it was never going to happen for us.”

Since arriving in Bulgaria, the couple have been doing all of the renovations themselves - spending round £5,000 thus far.

Lewis stated he goals to have the entire challenge completed in 10 years.

The former engineer stated: "It is going really well. We got in the house pretty quickly from the caravan even though we weren't really expecting to.

"I keep in mind pulling up within the caravan and we parked it in the midst of our land and we have been unpacking. I keep in mind all of our stuff with flies all around the meals and I believed 'what are we doing'.

"The number of times I have said that I want to go home but we are in such a different position now.

"When we arrived, individuals realised we have been struggling so individuals would flip up with baggage of greens. It was pretty, the day we pulled up, subsequent door got here spherical, and so they have been all serving to to get us moved in."

“It hasn’t been easy but there is such a great community here in Bulgaria. It reminds me of what my grandma would use to say when she lived in Bradford.

“It was a community, it was a village, everyone knew everybody, everyone helped. We had so many people when we arrived offering to help us.”