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do i need to update lender with details of lower salary?
kazza292_2
Posts: 51 Forumite
proabably stupid questions but i like to make sure i stick to the rules.
i have mortgage in my name only as my husband had bad debt ( now paid off).
i am a nurse and have just had a baby and in october will be going back to work on reduced hours .
my questions are
1. do i have to tell my mrtgage provider A&L that i will be reducing my hours
2. i have a fixed rate with them till 2011 , i was also worried that when this runs out if i dont tell them that i have reduced my hours and they ask for wage slips when i want a new mortgage product they will see i am on reduced hours and will penalise me in some way ??
ps husband and i are able to comfortably pay mortgage and i have a good credit history
i have mortgage in my name only as my husband had bad debt ( now paid off).
i am a nurse and have just had a baby and in october will be going back to work on reduced hours .
my questions are
1. do i have to tell my mrtgage provider A&L that i will be reducing my hours
2. i have a fixed rate with them till 2011 , i was also worried that when this runs out if i dont tell them that i have reduced my hours and they ask for wage slips when i want a new mortgage product they will see i am on reduced hours and will penalise me in some way ??
ps husband and i are able to comfortably pay mortgage and i have a good credit history
0
Comments
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No and no in short.0
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You don't have to prove your income (or anything else) to switch products with any lender.
Your situation is a very good reason to look very hard at staying with your existing lender when your fixed rate expires. I'm glad you are fixed until 2011 as A&L's products right now are pretty poor.0
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