Moving to a lower paid job

Ransom_Dry_Elk

I've been in my current job for over 10 years now and not entirely out of choice as when I've looked I've found it hard to find the work I want. I've had some good pay raises in the last couple of years-more as an attempt to keep me there. If I took a lower paying job what would the effect be on my mortgage (I'd still be able to afford the current level of repayments)? Would it affect my credit score?

TELLIT01

If you are still able to service the mortgage would there be any requirement to inform the mortgage provider? I wouldn't have thought so.

LilElvis

If you can afford to pay your bills then I can't see what else matters. Haven't got the foggiest clue what my credit score is and can't see the point in finding out as all household bills are paid on time and credit cards paid in full each month.

[Deleted User]

Ransom_Dry_Elk wrote: »

Would it affect my credit score?

You don't have a credit score, regardless of the the CRAs may want you to believe.

You income will simply be one of the factors that a lender will look at when assessing you for credit. It will have no bearing on your existing mortgage, but will be a factor when remortgaging.

DCFC79

As long as the job you find and accept is enough to cover the mortgage payments and your comfortable with said job then thats all that matters. Your credit score will not be effected, only you can see the score anyway.

Gavin83

When applying for a mortgage your salary will matter. Past this, as long as the mortgage payments are being made I very much suspect they don't really care what your income is.