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!
Remortgaging
Ftb199
Posts: 1 Newbie
Hi guys,
I’m currently about to take out a 2 year fixed rate mortgage where overtime is helping the total amount I’m allowed to borrow, I can still afford the repayments on my basic but the overtime allows me to borrow more. I’m just thinking about at when the 2 years fixed rate is up and I’m looking to remortgage what would be the situation if I was only on my basic wage and a lender wouldn’t lend me enough to remortgage? Or would that not happen? Would I be stuck in the variable rate?
Thanks in advance!
I’m currently about to take out a 2 year fixed rate mortgage where overtime is helping the total amount I’m allowed to borrow, I can still afford the repayments on my basic but the overtime allows me to borrow more. I’m just thinking about at when the 2 years fixed rate is up and I’m looking to remortgage what would be the situation if I was only on my basic wage and a lender wouldn’t lend me enough to remortgage? Or would that not happen? Would I be stuck in the variable rate?
Thanks in advance!
0
Comments
-
You should have the option of a customer retention product from your existing lender, if any are offered. Check your lender's record on these.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
-
Simply look at the lenders website and check out New deals for existing customers !0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.3K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards