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Skipton - credit/affordability checks when remortgaging/accepting new deal as an existing customer?
happy2bhere
Posts: 631 Forumite
My fixed rate mortgage with Skipton is due to end in October and I’m wondering what the process is when accepting a new offer with them. It’s my understanding that some lenders don’t require new credit and affordability checks when taking out a new deal with them, is this true for Skipton?
I’ve been sent a number of offers that I can accept, with or without advice from them. Am I safe to assume that accepting without advice won’t involve additional credit and affordability checks? I’m reluctant to start the process without more info!
I’ve been sent a number of offers that I can accept, with or without advice from them. Am I safe to assume that accepting without advice won’t involve additional credit and affordability checks? I’m reluctant to start the process without more info!
November wins...a book, a designer handbag (worth £550 :T) and a game. I am now an addict and thank everyone for taking the time to share and post. 
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Comments
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Yes you are.
But the best people to call would be skipton themselves?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks for responding to my question ACG.
My circumstances have changed a little since taking out the mortgage and concerned that there may be consequences if they were aware of this. I can afford to pay the mortgage and have never missed a payment, however I’m aware that I have income streams that they won’t take into consideration during affordability checks.
I’ve read a few articles stating that many lenders don’t redo the whole credit/affordability checks for existing customers and hoped that skipton was one of these!November wins...a book, a designer handbag (worth £550 :T) and a game. I am now an addict and thank everyone for taking the time to share and post.0 -
They can not take away your Mortgage because your circumstances have changed and I am 99% sure they can not remove the right to switch products because your circumstances have changed - I think it is limited to if you are in arrears or on consent to let.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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That’s a relief to hear ACG, thanks!November wins...a book, a designer handbag (worth £550 :T) and a game. I am now an addict and thank everyone for taking the time to share and post.0
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