Change of Job & Maternity

danjshelton

Hi,

I am seeking a bit of advice that could lead to a change in current lifestyle.

At present we have a 5 Year fixed deal with Accord Mortgages, and come July will be 3 Years into the deal, with 2 years remaining.

I am currently full time employed (roughly £42,000) and am considering going freelance (I have been this before I joined my current company 6 years ago). If i was to go freelance I would be self employed, I have read that it is good to have 2 years of accounts to show when remortgaging, is this the case or could I get away with 1 year (incase I didn't go freelance this summer).

In addition to this, we may be starting a family, if my girlfriend was to be on Maternity leave when we come to remortgage, do mortgage companies take into account the actual salary (£31,000) or the fact that she will be on maternity leave at the time?

Also how much do mortgage companies take into account overpayments? At present we overpay (this year) by about £75.00 per month, and have made one off overpayments this year of £3,000 and the same last year (as well as about £50.00 per month). We plan to overpay monthly (which should get more each year) to the end of the 5 year deal and maybe more one off overpayments. I'm guessing that our current provider can see this info, but new one's can't?

The answer to these questions may lead to more, so please bear with me! If I have missed anything then just ask.

Cheers

Dan

danjshelton

Any advice anyone?

Thanks in advance.

Dan

Thrugelmir

With 2 years to run on your current product term. There's no way of knowing what your remortgaging options will be.

If you remain with your current lender there'll be no need to disclose your employment circumstances.

Best to remain focussed on paying down the mortgage and/or building your savings for the future.