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Changing from Self Employed to Employment
Isleman
Posts: 102 Forumite
I took a mortgage in August 2007 for £120,000 with Standard Life . My fixed rate was only for a year so now I am on their variable which is 5.34%. I have about 109,000 left for 23 years and 3 months.
For me trying to remortgage and get a better rate was somehow difficult as I was selfemployed. My status changed this month as I started employment . My salary is 35K a year .
I read that lenders don't really like when the applicant is less than 2 years in employment .Obviously I would like to remortgage and get a better rate before they start to hike. What should I expect ?
Do you think it will be wise to start looking now or wait until I get some more employment history ?
Thank You.
P.S. Property was £130,000 when bought but if they evaluate probably it will still be around 90% LTV. I have good credit history with no debts/missed payments etc.
For me trying to remortgage and get a better rate was somehow difficult as I was selfemployed. My status changed this month as I started employment . My salary is 35K a year .
I read that lenders don't really like when the applicant is less than 2 years in employment .Obviously I would like to remortgage and get a better rate before they start to hike. What should I expect ?
Do you think it will be wise to start looking now or wait until I get some more employment history ?
Thank You.
P.S. Property was £130,000 when bought but if they evaluate probably it will still be around 90% LTV. I have good credit history with no debts/missed payments etc.
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