Borrowing more on fixed rate mortgage with now lower combined salary

noodle123

Hello

We have

mrginge

Fo simplicity lets assume in 3 years you've already paid off the extra 35k you want to borrow, so the remortgage is at £355k.
On £68k thats +5x joint before any affordability tests are applied.

I think you need a broker.

Funny_old_game

I think you need help massively.

Hence why other posters read this about deposits being gifted and are true non repayable. Problems like this arise, so people don't whinge and moan when lenders ask for this sort if proof..

Posters are now really in trouble as the amounts needed are maybe too far a stretch for even the most generous lender assuming the posters have no outgoings/kids in the world.

Yorkie1

Out of interest, did you declare the amount of money from your grandmother as a gift when you took your mortgage out, and did your grandmother sign a letter saying the money was a gift?

If yes to both, then the money is either not repayable or you committed mortgage fraud.

Funny_old_game

Probably not otherwise they wouldn't be in this situation.

They have 2 hopes hopefully, one used to be the name of golf tournaments, the other NO hope.