Potential moving home

northernireland10

Hi,
Just wanting opinions - we (wife & I) bought our house back in 2011. We are looking to (maybe) move to another bigger house which would be higher in value.
Our mortgage is portable, but how would this work say new house was 40/50k more in value than current house?

Also our current mortgage is easily managed however my wife is now self-employed and after having a child her wage has decreased. Will this make things more difficult?

Any thoughts on moving to co-ownership?

Let me know your thoughts and thanks for your help!

Ni10
:money:

Contemptuous

It's the rate you're on that's portable, not the mortgage itself.
Any additional borrowing will have to be on a product from the lender's current range.
This is all subject to affordability - you will be reassessed based on your current incomes and commitments.

stephenni1971

How long has your wife been self employed? Does she have accounts/tax returns to verify income?

northernireland10

Hi thanks for your replies so far.

My wife has only been self employed since about july/August, she does keep everything but no tax returns yet.
Prior to that she was on maternity leave then she left her temp job