Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • pioneer22
    • By pioneer22 17th May 17, 6:31 PM
    • 390Posts
    • 149Thanks
    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
    • 53,824 Posts
    • 46,614 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.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • pioneer22
    • By pioneer22 17th May 17, 6:45 PM
    • 390 Posts
    • 149 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.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

174Posts Today

1,413Users online

Martin's Twitter