Reduction in income before remortgage

freestyle_gus

Hi all,

Our household income will definitely go down within the next few months. My Wife is changing jobs with a noticeable reduction in her income.

Later in the year we will be remortgaging with our tracker coming to an end.

What are the pitfalls of remortgaging when your income has reduced? Will it be much harder to do?

Is there a level of income that would make it impossible?

Is it best to stick with our current lender? Does this 'smooth the rails' in such circumstances?

Thanks all for any advice!

:beer:

ACG

If your staying with the same lender you should be fine - but double check with them.
If your switching lenders then the affordability will be assessed as is at the time of application.