We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Remortgaging with a lower income then when we started...
prodigy9
Posts: 35 Forumite
Hi, my wife and I have an interest only mortgage of £188,000 that is due to end in 2021.
We have a good credit history which ironically may be blemished by the fact that we have no other debts, and have never missed a mortgage payment. However our incomes are a bit lower due to my wife becoming a stay-at-home mum.
My question is, am I right in thinking that Martin is starting a campaign aimed at mortgage holders who want to remortgage but who's income is lower than previously stated and have a proven track history of mortgage payments?
As an aside our home is now valued at c£400,000. Does this valuation help our situation? We are remortgaging in order to move to a repayment mortgage and our current lender, Redstone, are not competitive.
Any advice gratefully received.
prodigy9
We have a good credit history which ironically may be blemished by the fact that we have no other debts, and have never missed a mortgage payment. However our incomes are a bit lower due to my wife becoming a stay-at-home mum.
My question is, am I right in thinking that Martin is starting a campaign aimed at mortgage holders who want to remortgage but who's income is lower than previously stated and have a proven track history of mortgage payments?
As an aside our home is now valued at c£400,000. Does this valuation help our situation? We are remortgaging in order to move to a repayment mortgage and our current lender, Redstone, are not competitive.
Any advice gratefully received.
prodigy9
0
Comments
-
Has anything changed significantly since the previous thread on the same topic?0
-
Our situation is the same but what I'm asking is whether anything ever came of Martin's campaign.I understand these things can have a long gestation period but I can find no info at all.
Thx0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards