Beach Seagull
New member
- Jan 2, 2010
- 1,310
Even if say I have no income as recently made redundant (not that I have been but it's a distinct possibility)? I thought income was one of the main criteria for lenders?
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[Finance] Remortgage
- Thread starter Official Old Man
- Start date
Even if say I have no income as recently made redundant (not that I have been but it's a distinct possibility)? I thought income was one of the main criteria for lenders?
It is for a new mortgage or re mortgage. If you already have a mortgage and your circumstances change they cannot throw you out. As long as you keep on top of the mortgage payments whatever way you can until you find a new job it is not an issue. They would only throw you out if you got into arrears and then around 3-6 months before they started proceedings. The worst case scenario is they won't offer a new rate and you would go onto their standard variable rate, around 4.5% with most lenders. If you PM me your lender I can give you more of an idea
Perkino
Well-known member
- Dec 11, 2009
- 5,986
I don't use Uncle Spielberg as didn't realise he was in the business but every 2 years I use a financial advisor who gets me a better offer than I can get going direct. Each time he has saved me more than the £300 fee I have paid him so well worth looking into the benefits that a broker or financial advisor can offer. Oddly even as a loyal banker with the same account for 17 years I couldn't get the best deal
lost in london
Well-known member
I moved bank account to get a new mortgage, bit of a hassle getting it all set up but the bank account switch went through very smoothly.
I did the latter too.....but I still think that paying off the mortgage has to be priority....also where I work the pension is under attack...young lecturerers tell me that by the time they are my age their pension will be worth 40% of mine....