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Affordability checks when remortgaging
FirstCoffee
Posts: 28 Forumite
I'm thinking of applying to remortgage with my current lender, ie. moving to a different product of theirs.
My credit scores seem to be in good shape, but my income is down compared with when I took out the mortgage with them 3 years ago.
If I were to fail the affordability checks on the remortgage, is there any chance that this (seeing my lower income) might put my current mortgage in jeopardy?
Thanks.
My credit scores seem to be in good shape, but my income is down compared with when I took out the mortgage with them 3 years ago.
If I were to fail the affordability checks on the remortgage, is there any chance that this (seeing my lower income) might put my current mortgage in jeopardy?
Thanks.
0
Comments
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It isn't a remortgage when staying with the same lender. It's a product switch and they won't do an affordability score.
It can be done easily online with your mortgage company2 -
Oh ok, well that's something I've learned today! Thankspenners324 said:It isn't a remortgage when staying with the same lender. It's a product switch and they won't do an affordability score.
It can be done easily online with your mortgage company0
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