Mortgage affordability after removing a person from the mortgage

lemliss

nyoninboh said:

ACG said:

MWT said:

... and would need to be a genuine employment contract with an unrelated employer, don't even think about trying to resign and move to employee with the same or a related entity, it would trigger red flags with serious consequences.

This is important. 
If you go from self employed on £12k to employed on £50k, that is quite unusual. 
If there is anything unusual you need to be prepared that they may dig. We get a 12 month employment history and where situations like this crop up, we do extra checks. The majority we turn away. 

Thanks for all this, really useful to know! Fortunately for me, I am quite unusual...my industry pays well, I just came to the realisation that I'm a terrible employee and would be better off working for myself! I can bite the bullet though if it'll secure the house.

Presumably there would be early termination fees if we were to look at removing my partner's name? (we're on a fixed)

Yes there will be a redemption fee, it'll be in the mortgage offer you signed. As I was in my last 3 years it was 1% of the outstanding balance or something. 

prettyandfluffy

 ...my industry pays well, I just came to the realisation that I'm a terrible employee and would be better off working for myself! I can bite the bullet though if it'll secure the mortgage 

There is nothing to stop you changing your employment once you have the mortgage,