employment status and remortgage

hwalkerh

Hi

Our fixed term of the mortgage finishes in June so we will start looking around for re mortgage. Since taking out the mortgage 3 years ago my partner has been made redundant twice and now has a limited company that he employs himself through. Has a couple of years of accounts but has worked 6 months for each of those years (was in full employment in between until made redundant fot the 2nd time) I don't think that this is quite the same as being self employed?!? What difference will this make when re mortgaging?

I know its a bit complicated and We have only had a mortgage for 3 years so this is the first time of remortgaging so i'm not really sure what happens.

outstanding mortgage = £60000
House value = £140000 (ltv 42%)
wage 1 = £25000
wage 2 (as described above)= min £15000

Any advise would be great

herbiesjp

You could get the remortgage in both names, but only take wage 1 into account - that is assuming no dependents, and no other debts.

If you had dependents and other debts, it could still be possible, but you would need to look more carefully at affordability issues.

hwalkerh

Thanks

No other debts and no dependants