Future Mortgage Application effect of Furlough

JDI1

We are due to remortgage in September and want to move from repayment to interest only, so likely will be switching lender. My wife is an interior designer and as you would expect work volumes are dropping. She will likely have to furlough the staff next month. She can also furlough herself, or maintain her salary from the remaining money left in the business. If she furloughs, do you think this will count against us when we remortgage? We would like to furlough her as well so she has enough money to pay staff when things start again, but we do not want to risk not getting the mortgage. Our LTV is very low, so that part will not be an issue.  Any thoughts gratefully received. I can find nothing online regarding this. 

calcotti

It’s guesswork as to how lenders will deal with future applications following this hiatus. You are obviously in a stronger position with a low LTV.