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Remortgaging Query Part 2
xsussax
Posts: 24 Forumite
I posted yesterday about the trouble we're having finding a remortgage due to me now being a student and it affecting our affordability due to my student loan, grant and zero-hour income not allowed to be used. I understand this can't be used in a formal application, but in context we do have an extra £12,500 a year coming in and I do pay my own bills/loan/credit card.
I said that our current lender, Norwich and Peterborough, are not in business anymore and Yorkshire Building Society have taken over. This means they are unable to do a product transfer. We spoke someone at N&P/YBS earlier this week who said that although it would be a remortgage, it is more streamlined for N&P customers. We are booked in for an appt on Fri with their adviser.
I can't help but worry we won't be able to get anything sorted. I'm wondering whether anyone knows about how companies who take on other companies' mortgages might assess a remortgage. Would it more more lenient, for example, or would it be completely from scratch?
We have good credit ratings but if they can't take my loan/earnings into consideration in the wider context, then my husband looks like he pays a lot out. I am losing sleep about being stuck on an SVR with interest rates going up.
I said that our current lender, Norwich and Peterborough, are not in business anymore and Yorkshire Building Society have taken over. This means they are unable to do a product transfer. We spoke someone at N&P/YBS earlier this week who said that although it would be a remortgage, it is more streamlined for N&P customers. We are booked in for an appt on Fri with their adviser.
I can't help but worry we won't be able to get anything sorted. I'm wondering whether anyone knows about how companies who take on other companies' mortgages might assess a remortgage. Would it more more lenient, for example, or would it be completely from scratch?
We have good credit ratings but if they can't take my loan/earnings into consideration in the wider context, then my husband looks like he pays a lot out. I am losing sleep about being stuck on an SVR with interest rates going up.
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