Mortgage deal ending and change of circumstances

RainbowLaura

Hi everyone,

I currently have a Nationwide mortgage and according to their website I could get a really good deal when my current one ends in a few months. However, since we started our current deal our circumstances have changed significantly. We can make the monthly payments quite comfortably - even more so if we get a better deal. The thing is, if we were to be reassessed, we would not be eligible for the mortgage amount we currently have.

So, my question is, since we plan to stay with the same lender, will we be reassessed? If so, I'm guessing we'd just end up on the SVR as we wouldn't be "eligible" for any of the deals?

I also have a second question. I am currently struggling to get life insurance (although I am trying). If something "happened" to me, my husband would still be able to make the monthly payments by himself but would, again, not be eligible for such a large mortgage if assessed by the bank. Would Nationwide force him to sell the house or could he keep living here as long as he kept up with the payments? (Basically, would he be reassessed?)

Many thanks,

Laura

Sedge123

I think (but I may be corrected) that if you stay with the same lender then you generally don't have to go through the application process from scratch.