Remortgage/Job Change

Beckyy

The fix on our mortgage is up in 3 months time and we will most certainly be able to get a better deal than our current one, however there is a high change that OH (main applicant) may change jobs before then. If he gets offered the job he won't be in a position to postpone his start date.

I know many lenders require you to have been with your current employer for a minimum time (6 months/1 year etc).

Would this wipe out a lot of options when it comes to who we could remortgage with if OH's job application is successful?

Keith

I changed jobs just before completion on our mortgage, I called HSBC explained the situation and they took a copy of my offer letter.

All was fine, so I happily resigned

dimbo61

First of all have you checked what your current deal reverts too after the fix ends ? IE SVR or some form of tracker deal ?
Second have you looked on your lenders website to see what deals they have for existing customers.
You might need to give your lender a call at the mortgage centre where you will also find the current outstanding balance.
My current lender only did a Deck top valuation ( free) and we think a drive by valuation but it is a modern house on a new estate with a couple of recent sales of the same type of property and we only needed 40% LTV.
Does the new job have a probation period in the same industry ?
Not working in the oil industry up in Scotland ! Or safe job ?
You can always stay of the SVR for a couple of months

Beckyy

Thanks for the replies.

That's good to know Keith, thank you.

I'm not sure if it would be worth getting an agreement in principle from a lender now on the basis it would still be valid at the end of our fix or just waiting until a bit closer.

Dimbo61,their 'loyalty' deals aren't anything special and we don't qualify anyway as we don't use our lender for our current account banking. Already have tabs on outstanding balance as we OP regularly. We're due to convert to SVR, worst case scenario is we do have to stay on it for a few months but obviously time is money and I'm already champing at the bit after we've been stuck on such a high fixed rate for so long now.