Remortgage - fixed term contract vs permanent

mustang1

My current mortgage with the Woolwich is not due to expire until early next year.

My property has been let whilst I have been away travelling (with consent from the Woolwich). I am now planning to move back into the property but do not want to go straight back into a permanent working role and am looking to get a 6 month contract instead.

What impact would this have on my remortgage? Will I be stuck with the Woolwich SVR?

LTV is 60%.

Thanks in advance

HappyMJ

Once you've got the contract you'll need the help of a broker to find you the best deal compatible with your new circumstances. It shouldn't be a problem.

mustang1

An updated request on this thread please.

I gave up work in January 2014 and travelled for 13 months. I started a 3 month contract a few weeks ago and have now secured a 12 month contract starting in mid-June May.

My current deal with Woolwich actually doesn't end until August. I just wonder if I stay with Woolwich and change product, would I need to inform them of the change in my employment circumstances? What are their views on fixed term contracts, particularly as I won't have been employed for 12 months before my new contract starts.

New salary will be £70k. Mortgage amount is £220k and property value is £500k. I also have £15k on 0% credit cards. I could clear half of this with ISA savings but I'd rather not if I can avoid it.

Any input appreciated. Thanks