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Existing mortgage, changed from self employed from being employed by company
critterfritter
Posts: 22 Forumite
Hi all
I am hoping someone will be able to help with this one. Me and my partner have a mortgage that was applied for when we were both employed by companies. We have since changed and are now partners in our own company ( running for around 18months ) which is doing well. My questions are...
1) when our fixed 2 year mortgage is up will we have trouble applying for another fixed deal with our lender based on the change of circumstances ?
2) If there is a problem and we revert to the BMR, should we just let it run it course until we have been trading for longer rather then let them know about the change in status?
We can easily afford the current payments, so we are not worried on our side and feeding our account the same wage to cover bills etc - any advice welcome.
I am hoping someone will be able to help with this one. Me and my partner have a mortgage that was applied for when we were both employed by companies. We have since changed and are now partners in our own company ( running for around 18months ) which is doing well. My questions are...
1) when our fixed 2 year mortgage is up will we have trouble applying for another fixed deal with our lender based on the change of circumstances ?
2) If there is a problem and we revert to the BMR, should we just let it run it course until we have been trading for longer rather then let them know about the change in status?
We can easily afford the current payments, so we are not worried on our side and feeding our account the same wage to cover bills etc - any advice welcome.
0
Comments
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As long as your lender is still offering new deals, and you aren't asking for more money, there won't be a problem as they won't ask for details of your income. Moving lenders would be a different matter though.0
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