Changes in circumstances

hannahcairns47

I have a mortgage on my own and have done for 4 years.
2 years ago I got fixed rate mortgage for 5 years. Since then my circumstances have changed I have met somebody, settled down and just had a baby. I now have to work part time to care for my child. When my mortgage fixed rate is up and they see my wage has dropped from 22k to 11k what will happen to my mortgage? will they let me continue paying for my house? will I need to add my partner onto the mortgage?

Any help would be greatly appreciated. It is 3 years away but I worry.

Thrugelmir

No need to panic. Providing the mortgage continues to be paid every month there's no reason for the lender to contact you. A few months before the fixed rate period ends. Pop back to the mortgage forum. By then you'll have a clearer idea of the direction your life is travelling in.

amnblog

In three years time your Lender will most likely offer you a range of product options going forward and will not even ask about your employment situation.

That would be the situation today and, barring regulation changes, is likely to be the situation in 2022.

You certainly would expect to have to add other people to your mortgage.