Fixed term contract NHS

Jeremy2090

The NHS organisation I have worked for on a permanent contract for the last 17 years have offered me a management position but on a fixed term contract for 18 months. I am concerned that if i accept this position my wife and I may have a problem when it comes to applying for a new mortgage deal. Our current mortgage deal runs out in September next year so we would need to remortgage then. We currently owe 330k but the property is valued at 1.2 million so it's low LTV. If i was made redundant my pay off would be 40k. My wife is on a permanent contract.We have always made mortgage payments on time, have used the same lender for 6 years and both have excellent credit ratings. I would really like to accept this management position but am concerned about the possible impact. Should I be worried? Thank you.

FungalCow

Are you planning on moving? If not then you would be looking at doing a product switch. As long as you don't ask for more money then they shouldn't need to ask about your finances at all. They have you at the moment and can't really get rid of you as a customer.
If you want to explore the market for remortgaging elsewhere, or move house, then you would need to prove income. If your contract has 6 months left you might struggle given its your first ever fixed contract. A lot will be fine as long as it has been renewed in the past.

If you stay with current lender in your current property with no real changes to mortgage then probably won't have any issues.
If you want to move, then maybe. It would need more digging around.