Switching employment status

a1m1m25

Hello all,

About a year ago I started my first mortgage with TSB. I currently work self employed as a sole trader, however tomorrow I am having my 2nd interview with a company not far from me for a permanent role. This would give me stability and way less commuting to work at clients' offices in London.

It did occur to me recently though that my mortgage was given to me assuming an average income that works out about 10 grand higher than the top rate of this permanent job. I'd still be able to afford the mortgage, even if it goes up a few percentage points, but do I need to reassure TSB again that yes I am indeed going to be ok paying? They seem to be happier lending to those in permanent roles, but of course it's 3 months' probation first were I to pass the test and take the job.

It was such a long-winded process getting the mortgage, I don't want it to be trouble again, but working locally rather than 1.5/2 hours away is mighty tempting.

[Deleted User]

Your current status will only be a factor in any remortgage.

You don't need to go back and tell everyone you've changed your job.

a1m1m25

Really? That is very handy to know. I'm one year in to a 2 year introductory fixed rate so would changing things up at that point count as remortgage?

[Deleted User]

It you moved to another lender, yes.

a1m1m25

Aha, so then, sticking to TSB... presumably at that point they'd see I did indeed pay successfully, was in gainful employment etc. Brill! Thanks.

Edi81

If you just switch product e.g. New fixed rate and don't change the amount being borrowed or duration the lender typically doesn't request current salary. If you do everything online then it should sail through.