Am I safe to reduce work hours before remortgaging?

moonshining

In May next year, I need to remortgage (or product transfer, depending if current provider beats other deals in the current climate of interest rates...). I'm aware I can secure a deal from 6 months prior, which is still 3 months away.

With either remortgaging or a product transfer, will the lender want to see my current income? What is likely the lowest I can have and still be accepted?

I'm not happy in my job, and want to reduce my hours. Depending on how much I reduce hours by, my income may only be £14k, or £20k if I don't reduce it too much. With these figures, would a lender still lend me the outstanding £70k that will be left on my 25 year mortgage by that time? 

I would be topping up income with a zero hours contract elsewhere, but of course this isn't guaranteed income, so I'm not even sure if mortgage lenders would be interested in considering this. 

With the £14-20k income, would lenders still approve me borrowing £70k from them, or would I be better off (financially but maybe not mentally) holding on a few months to at least tie in a new deal before considering dropping my hours? 

CSI_Yorkshire

moonshining said:

With either remortgaging or a product transfer, will the lender want to see my current income?

Product transfer, likely not.

Remortgage, almost certainly.

housebuyer143

Best to just product transfer.. You might be fine with £20k but probably not £14k.

SensibleSarah

I'm self-employed so slightly different, but I have scaled back how much work I'm taking on this year for a better work/life balance and obviously income has dropped as a result. With my current fix ending in Oct this year, I've decided just to go for a product transfer, even though it's not the best rate available when comparing the whole market. This avoids the stress of all the checks/worry as my lender literally asks no questions whatsoever about income etc in this scenario.