Remortgaging when i am now self employed

ritchiehulse

As the title says really, i have just been told by the bank my current mortgage is up in April and i will be put on the SVR which is roughly £50 more than my current deal each month.

My problem is since my last mortgage review i have become self employed and will have 1 years worth of books which equates to roughly £37000 a year.

I currently have 104,000 left on the mortgage with a LTV of 62%.

My question is will i just end up paying more if a go for a remortgage and tell them my change of circumstances even though i am on more money now? or will i be entitled to the same details as everyone else?

Thrugelmir

There's no entitlement to anything. Lending money is a commercial activity and is based on risk etc. Not of non recovery of the debt but the likelihood of a borrower defaulting on repayment. This is what costs lenders money that is never recovered.

Have you asked what other products they will offer you?