My wife and I currently own a house which we have a joint mortgage on. We have been in the current house for approximately two and a half years now (our first home) and have always made our repayments no problem. Our first child was born about a year and a half ago and my wife stopped work after her maternity leave. We have continued to repay our mortgage with no problems since but are now looking at the possibility of moving house but have no idea whether we will be in a position to do so financially.
Would we be able to keep our current mortgage despite the change in circumstances as we have been making repayments without a problem? Would a mortgage lender take into account our past record when offering a new mortgage or would it be solely based on my salary?
I'm sure our current mortgage lender would be able to answer these questions but we have been hesitant to do so as we do not want to have our current mortgage revoked due to our change in circumstances.
Any help or advice would be greatly appreciated.
Would we be able to keep our current mortgage despite the change in circumstances as we have been making repayments without a problem? Would a mortgage lender take into account our past record when offering a new mortgage or would it be solely based on my salary?
I'm sure our current mortgage lender would be able to answer these questions but we have been hesitant to do so as we do not want to have our current mortgage revoked due to our change in circumstances.
Any help or advice would be greatly appreciated.