Remortgage deal and maternity leave

bootskinbabez

Hi

Just wondered if I could get some advice. Our 2 year fixed deal ends in august so we have started having a look around at what deals are about. However our circumstances have changed as we had a baby and I am currently still on maternity leave and not due to return to work until September. I will be dropping down to part-time and have read that lenders will accept written confirmation from employers what the new salary will be etc. My query is; are we less likely to be accepted with a new lender (affordability checks)? So would we be better off sticking with our current lender? They actually have some pretty good deals compared to what we pay now, but will they ask for all the affordability stuff again?

Any advice appreciated

Newbiebuyer2016

Technically CURRENTLY you are employed full time and on a higher wage is that correct? Have you already had your return to work meeting?

Spangled

Generally speaking, if you are sticking with your current lender (ie it's a product switch) and you're not borrowing any more or changing the mortgage term then the lender won't perform any affordability checks. You can often switch deals online in a matter of minutes (I know I can with my current lender, NatWest).

But if you're moving to a different lender then it's treated as a whole new mortgage application, with the resultant affordability checks etc.