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  • FIRST POST
    • W00tang
    • By W00tang 5th Jul 18, 8:40 PM
    • 2Posts
    • 0Thanks
    W00tang
    Remortgaging as a student
    • #1
    • 5th Jul 18, 8:40 PM
    Remortgaging as a student 5th Jul 18 at 8:40 PM
    Hi, thanks for potentially helping

    My wife and I are currently working full time, but i'm hoping next year to go to uni for 3 years. We have a 6 week old baby, so based on our income with me as a student including grants and loans i can potentially earn around £12-15k a year which, after tax is roughly what i earn now.

    My wife mentioned before that we are due to remortgage in 2 years time so I should wait until we have done that before starting. If I have to i will, but i've been working 8 years towards it and I really want to get it done.

    Anyway, how would this work in terms of us remortgaging with me as a full time student? I'll obviously have a part time job in between, so is it possible to remortgage with one half of the mortgage holder being a student?

    Thanks in advance!
Page 1
    • Thrugelmir
    • By Thrugelmir 5th Jul 18, 9:04 PM
    • 61,016 Posts
    • 54,214 Thanks
    Thrugelmir
    • #2
    • 5th Jul 18, 9:04 PM
    • #2
    • 5th Jul 18, 9:04 PM
    Remain with your existing lender. Rather than remortgaging. Choose from the online options available to you.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • W00tang
    • By W00tang 5th Jul 18, 9:30 PM
    • 2 Posts
    • 0 Thanks
    W00tang
    • #3
    • 5th Jul 18, 9:30 PM
    • #3
    • 5th Jul 18, 9:30 PM
    Remain with your existing lender. Rather than remortgaging. Choose from the online options available to you.
    Originally posted by Thrugelmir
    Thanks so much for the reply!

    I have seen someone mention that, but it sounds a little like lying by omission. Is there any way to predict roughly what would be available at the time? and could we keep a set rate or would we have to go variable at this point?

    Thanks again
    • Edi81
    • By Edi81 6th Jul 18, 8:12 AM
    • 555 Posts
    • 512 Thanks
    Edi81
    • #4
    • 6th Jul 18, 8:12 AM
    • #4
    • 6th Jul 18, 8:12 AM
    When remortgaging online which tends to mean switching the rate the lender doesn’t ask too much.

    Who is your lender? Someone will know what their online switch asks for
    • kingstreet
    • By kingstreet 6th Jul 18, 8:53 AM
    • 34,345 Posts
    • 18,655 Thanks
    kingstreet
    • #5
    • 6th Jul 18, 8:53 AM
    • #5
    • 6th Jul 18, 8:53 AM
    You are looking for a customer retention product, you aren't remortgaging (which is a new mortgage from a new lender to repay the old one.)

    Customer retention products normally don't involve further income or status checks so you will be omitting nothing as you'll be asked nothing.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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