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Mortgage & Return to Work After Mat Leave Dilema
edr2008
Posts: 3 Newbie
Hi,
I would appreciate your thoughts...
I am due to return to work soon following maternity leave. Financially we could afford for me not to return, however the problem would be the mortgage and remortgaging next year.
The mortgage is in my name, and due to a few poor financial decisions made by my partner in the past (culminating in a DMP - ending in 4/5 years) a joint mortgage or mortgage in his name is out of the question for the next few years at least.
As I see it, the only option would be for me to stay with my current lender and see what they offer me when my current deal comes to an end (summer next year), or go onto the variable rate after. I assume a mortgage/deal with the same lender and no additional borrowing would not require re-underwriting? I obviously would not be able to shop around as I would not have any proof of income as I wouldn't be working.
Also - Am I obliged to inform my mortgage provider if my working circumstances change?
I could always just return to work...!!
I look forward to your views.
I would appreciate your thoughts...
I am due to return to work soon following maternity leave. Financially we could afford for me not to return, however the problem would be the mortgage and remortgaging next year.
The mortgage is in my name, and due to a few poor financial decisions made by my partner in the past (culminating in a DMP - ending in 4/5 years) a joint mortgage or mortgage in his name is out of the question for the next few years at least.
As I see it, the only option would be for me to stay with my current lender and see what they offer me when my current deal comes to an end (summer next year), or go onto the variable rate after. I assume a mortgage/deal with the same lender and no additional borrowing would not require re-underwriting? I obviously would not be able to shop around as I would not have any proof of income as I wouldn't be working.
Also - Am I obliged to inform my mortgage provider if my working circumstances change?
I could always just return to work...!!
I look forward to your views.
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