We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Remortgage My wife no longer works what should i do?
humadoon
Posts: 118 Forumite
del this please
0
Comments
-
Mortgages don't expire. However the product does. As you are staying with your current lender. It'll be a question of choosing from a product that they willing to offer or dropping onto either the SVR or BMR rate.0
-
You will presumably revert to the SVR rate which is currently 3.99% so it isn't exactly a bad deal. It is not *mandatory* for you to arrange a new mortgage deal.0
-
TrickyDicky101 wrote: »You will presumably revert to the SVR rate which is currently 3.99% so it isn't exactly a bad deal. It is not *mandatory* for you to arrange a new mortgage deal.
i am getting better rate than this please advise in terms of my wife having no job will this effect?0 -
Are you on the SVR of 2.5%?0
-
Thrugelmir wrote: »Are you on the SVR of 2.5%?
No i was sold a very expensive mortgage by my mortgage adviser it was more than 5 % as i paid only 10 % ..
but this time i am getting 3.59 % or 3.49 % something on 3 years fixed if bank is happy0 -
No i was sold a very expensive mortgage by my mortgage adviser it was more than 5 % as i paid only 10 % ..
but this time i am getting 3.59 % or 3.49 % something on 3 years fixed if bank is happy
That doesn't answer the question, i.e. what rate does your current mortgage revert to at the end of its fixed term if you do nothing?
There may be no point going through the Spanish Inquisition and paying fees for a new fix if you will be reverting to a decent rate anyway.0 -
That doesn't answer the question, i.e. what rate does your current mortgage revert to at the end of its fixed term if you do nothing?
There may be no point going through the Spanish Inquisition and paying fees for a new fix if you will be reverting to a decent rate anyway.
its 3.99 %0 -
You should look at your options outside of Nationwide, presumably your wife is on maternity leave and so likely to return? if so potentially her income on return can still be taken into account.
Your income may be sufficient on its own?I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Do you have an option of just switching product online without the phone interview? Have you tried to do this online?
This is what I did but it was just before MMR came into force.0 -
You should look at your options outside of Nationwide, presumably your wife is on maternity leave and so likely to return? if so potentially her income on return can still be taken into account.
Your income may be sufficient on its own?
She has finished her maternity and left the job due to child care
i have suffient income to support0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards