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Mortage Advice
Pufferfish
Posts: 69 Forumite
Hi
We have had a fixed rate mortgage for 2 years which is now coming to an end. My partner has booked an appointment with the same broker who offered 'advice for life' with a one-off fee so we plan to take advantage of this again. The mortgage is currently through Natwest (his bank) and was a deal that I believe was only possible through the broker. However, he is now earning less than when he bought the house and has a big overdraft each month (he was made redundant two weeks after we moved in). He is concerned about how his lower income will effect our mortgage options and I'd be grateful for any advice.
I should point out that everything is solely in my partner's name as my finances would likely hinder (poor credit history, self employed, very low income) rather than help. We are not on benefits of any kind as we don't think we'd be eligible. My choice to go self-employed was made partly due to a work-related nervous breakdown some years ago. Thanks.
We have had a fixed rate mortgage for 2 years which is now coming to an end. My partner has booked an appointment with the same broker who offered 'advice for life' with a one-off fee so we plan to take advantage of this again. The mortgage is currently through Natwest (his bank) and was a deal that I believe was only possible through the broker. However, he is now earning less than when he bought the house and has a big overdraft each month (he was made redundant two weeks after we moved in). He is concerned about how his lower income will effect our mortgage options and I'd be grateful for any advice.
I should point out that everything is solely in my partner's name as my finances would likely hinder (poor credit history, self employed, very low income) rather than help. We are not on benefits of any kind as we don't think we'd be eligible. My choice to go self-employed was made partly due to a work-related nervous breakdown some years ago. Thanks.
£1 or less - entry to Woburn Safari Park, pair of cargo shorts, men's desert boots, £5 book token, tree peony, 2 x tights, National trust entry (50p for 2) *1 night at Hoxton Hotel* 
+ numerous freebies. Thanks MSE :T
+ numerous freebies. Thanks MSE :T0
Comments
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Chances are, he will be better off looking at NatWest's customer retention products online. He needs to enter his mortgage account number and it will show the options available;-
https://www.switch.natwest.com/SVRWeb/nwb/faces/login.jspI am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks, I'll tell him to take a look at that.£1 or less - entry to Woburn Safari Park, pair of cargo shorts, men's desert boots, £5 book token, tree peony, 2 x tights, National trust entry (50p for 2) *1 night at Hoxton Hotel* + numerous freebies. Thanks MSE :T0
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Partner has had a look online at his mortgage account inputting details etc to see what's available to him but for some reason it would only let him go so far - wonder if it's because of the overdraft.£1 or less - entry to Woburn Safari Park, pair of cargo shorts, men's desert boots, £5 book token, tree peony, 2 x tights, National trust entry (50p for 2) *1 night at Hoxton Hotel* + numerous freebies. Thanks MSE :T0
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Probably because, like most banks' online systems, it does not work properly.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Pufferfish wrote: »wonder if it's because of the overdraft.
Does he bank with NatWest?0 -
Thrugelmir wrote: »Does he bank with NatWest?
Yes he banks with Natwest (see original post)£1 or less - entry to Woburn Safari Park, pair of cargo shorts, men's desert boots, £5 book token, tree peony, 2 x tights, National trust entry (50p for 2) *1 night at Hoxton Hotel* + numerous freebies. Thanks MSE :T0
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