Posted on 3 March 2011 by Suzanne
My husband and I were first time buyers. We only had a 10% deposit and got a 2 year fixed deal which is due to end in Nov this year. I was made redundant last summer from a permanent position, but got a new job within 2 weeks, however this was working as a consultant on a 1 year project which will end in August this year. Whilst I intend to try and secure a new, permanent role, to start when this one finishes, I am concerned that this will effect us when we go to re-do the mortgage. Can you confirm if it will?
It is very possible that this will have an impact if you choose to change Lenders when your current deal expires. Whether it actually will or not depends on the type and nature of any employment you manage to secure. If it is in the same line of work and you can demonstrate a continuous track record, albeit with different employers this will not have too much of an impact, whereas Lenders will not look favourably at a totally new line of work.
If you choose to stay with your existing Lender then you will probably find they do not even ask you about your current employment situation. They will probably have a set of Fixed and Variable products that you can transfer onto for a small fee, although you may have to threaten to remortgage to be told their best deals.
I believe you would benefit from speaking to one of our independent mortgage advisers nearer the time. Please call on 0344 346 3672 tell the consultant the date and title of your question, they will then be able to look at your current situation and advise you accordingly.
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