Remortgaging after change in person circumstances

LolaCola_2

Hi,
Not sure if there were any other threads on this type of scenario but had a search and couldn't see any.
I have a joint mortgage (fixed rate 5 yr) with my hubby at the moment. This is all great however due to family expansion i may need to give up work next year in order to look after my family as it will not be economically viable to stay in work and pay nursery fees etc.
Does anyone know where i would stand at the end of my fixed rate period if i no longer worked?? ie would we be able to get another deal with my lender or would I just be stuck with the standard variable rate at end of deal. I know we will still be able to make the payments at the current rate but am now worried in case I'm not eligible for a better deal and get lumbered with a high standard rate.. ..... Any advice appreciated.

luckyfool

Depends on your lender, but in normal circumstances most lenders do not underwrite you again or check circumstances if all you are doing is switching to a new deal. If you wanted to borrow more money or move to a new lender then you would have to pass that lenders criteria and affordability at that time based on your circumstances then.

LolaCola_2

Thanks for the advice, I never really thought of it like that. I'll check with my lender beforehand.
cheers