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Temporary part-time salary
MPEARSON
Posts: 26 Forumite
Hoping for some advice please.
I'm coming to the end of my fixed rate (31st December). I'm with Halifax and there's a reasonable retention product I can take. However I've seen a more competitive rate with Yorkshire.
The issue is that I am currently on a voluntary reduced salary from 1st November until 31st March. Thereafter I return to 100% salary. I have a contract variation stating this. It is a one-off for this Winter.
All of my payslips are reflective of my 100% salary. The first reduced one is the end of November.
I have an AIP from Yorkshire, however I did enter my full-time salary.
Can anyone advise if a temporary reduced salary can be restrictive for remortgaging?
Thanks
I'm coming to the end of my fixed rate (31st December). I'm with Halifax and there's a reasonable retention product I can take. However I've seen a more competitive rate with Yorkshire.
The issue is that I am currently on a voluntary reduced salary from 1st November until 31st March. Thereafter I return to 100% salary. I have a contract variation stating this. It is a one-off for this Winter.
All of my payslips are reflective of my 100% salary. The first reduced one is the end of November.
I have an AIP from Yorkshire, however I did enter my full-time salary.
Can anyone advise if a temporary reduced salary can be restrictive for remortgaging?
Thanks
0
Comments
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It may impact it as to them it's a new mortgage so they will check affordability etc you would need to check with them to see if they are happy enough to proceed based on your contract variation as they may be concerned with how you will afford to pay the mortgage for the period upto 31/30
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