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  • FIRST POST
    • pioneer22
    • By pioneer22 17th May 17, 6:31 PM
    • 419Posts
    • 158Thanks
    pioneer22
    Mortgage and reduced income
    • #1
    • 17th May 17, 6:31 PM
    Mortgage and reduced income 17th May 17 at 6:31 PM
    Hi all,

    Our mortgage is in my wife's name however, she isn't currently working at the moment and is currently on Maternity Allowance.

    She may or may not return to work she doesn't have to as I earn enough but my credit file is such that I can't be added to the mortgage yet.

    Q, should we inform the lender? If yes are there any consequences? Likewise, if we don't. I don't particularly fancy a conversation about my wife returning to work with them.

    There's no issue around affordability at all we could earn minimum wage and still have enough money. Mortgage is like £350pm.

    My thought process is as long as its paid there isn't an issue?
Page 1
    • Thrugelmir
    • By Thrugelmir 17th May 17, 6:42 PM
    • 56,255 Posts
    • 49,621 Thanks
    Thrugelmir
    • #2
    • 17th May 17, 6:42 PM
    • #2
    • 17th May 17, 6:42 PM
    Providing you continue to meet your monthly commitment you'll encounter no issues.

    Is your mortgage interest only. As £350 is a very low amount.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • pioneer22
    • By pioneer22 17th May 17, 6:45 PM
    • 419 Posts
    • 158 Thanks
    pioneer22
    • #3
    • 17th May 17, 6:45 PM
    • #3
    • 17th May 17, 6:45 PM
    Providing you continue to meet your monthly commitment you'll encounter no issues.

    Is your mortgage interest only. As £350 is a very low amount.
    Originally posted by Thrugelmir
    Nope 2.44% Mortgage is about 80k or so I think.... big deposit plus help to buy plus oop north its cheap.
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