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Remortgaging
LL198585
Posts: 40 Forumite
Hi all,
Our 2 year fix is nearly up. The house is in my partners name. She is contracted 15 hours per week approx £500 a month wages, my credit rating means I can't get on the mortgage but I put 1200 into the house every month. 335 for mortgage the rest pays the bills shopping etc... is it possible to remortgage on her small wage with a second income being mine? We have been doing this since day 1 but never had to re mortgage before
Thanks
Our 2 year fix is nearly up. The house is in my partners name. She is contracted 15 hours per week approx £500 a month wages, my credit rating means I can't get on the mortgage but I put 1200 into the house every month. 335 for mortgage the rest pays the bills shopping etc... is it possible to remortgage on her small wage with a second income being mine? We have been doing this since day 1 but never had to re mortgage before
Thanks
0
Comments
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I should add we owe 84000 mortgage0
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Are you looking to stay with the same lender?
If staying with the same lender can be done online.
If you include your income in the new application then your name will be in the application.1 -
I don't know all I know is that our 2 year fix term is up and would like to remortgage... but not sure if its possible with my partners small wage and my adverse credit rating0
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Rather than remortgage she should do a product switch with the same lender. She decides which product she will want and it can be done automatically online. then in a few years when that deal runs out you look at your finances and credit history, if it has improved you can ask about your income being enough to remortgage, or do another product switch again and just stay with the same lender.Credit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 20362 -
Was your partner's wage higher when the mortgage was taken out?
For your income to be included it will need to be a joint mortgage in both names and you may need to be put on the title deeds of the property.0 -
Yeah her wages was higher. Was 16000 per year but since then we have had a baby and she has went part time
I doubt I could go on the mortgage as I'm still in a trust deed0 -
As above. Just go on a new product. They don't check anything and you just sign a piece of paper and you go on the new rate.
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Thanks all. Product transfer can this happen anytime or is it 3 months before the term ends0
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Will they not look into the new wage etc0
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If the mortgage has been paid and is up to date its is normally automatic,LL198585 said:Will they not look into the new wage etc
computer says yes
signature received
new product rate appliedCredit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 20361
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