Re - Mortgage Advice

nutter

Hi, I need some advice about a re - Mortgage. I have a joint Mortgage with my wife which is due to be renewed in October, as that is when my 2 year locked in period ends. The problem is my wife is 6 months pregnant and will not be going back to work.

Due to multiplier problems I will not be able to get a new Mortgage on just my wage. Is there any way of getting a Mortgage early before my wife gives up work, but not letting it start till until when the original one ends.

I am getting worried that I am going to be charged £100’s in interest because I cant move my Mortgage.

If any one can give me any advice on how I could move the Mortgage it would be most appreciated.

Thanks

Nutter

payless

Legally you have a duty to advise lender of any material change between application and drawdown, so assuming you can't move early- but wanted to get things in place for the end of the tie this may be an issue.

You may be surprised at what income multiples are sometimes given - especially if you have good track record/ equity (perhaps speak to an independent mortgage intermediary)

Alternatively investigate what "renewal" deals you existing lender will give - as usually these don't require any underwriting ( so long as no extra borrowing)