Do we have to tell mortgage lender about leaving job?

Smoosh

We have had our current mortgage for just over 2 years. I'm planning on leaving full time employment in the near future, with the eventual aim of being self-employed. We will have no problems continuing to repay our mortgage as a) my partner makes enough to comfortably cover the repayments and b) I have saved so I have enough money to last me for several years. Are we obliged to tell them? 

Owleyes00

No. Assuming I am correct in reading that you have already been loaned the money and already own the house. 

Smoosh

Owleyes00 said:

No. Assuming I am correct in reading that you have already been loaned the money and already own the house. 

Our mortgage started in 2019. We have been in the same house since then. We currently still owe around 200k.

Pow11890

I don’t believe there’s a legal obligation as long as mortgage repayments are kept up. But if you’re going from employed for self employed in 2 years you will need to disclose & typically lenders will need 3 years tax returns to qualify you for the re mortgage/affordability purposes so that could get tricky.. 

getmore4less

You don't have to remortgage with checks.

Currently  product transfers are no checks with most lenders.

The SE hurdle comes when you need to change your borrowing terms like moving, borrowing more, changing term.

london21

There shouldn't be a problem. When it come to mortgaging straightforward if with the same lender and no durther borrowing.