Can I remortgage if I'm earning less?

If you're looking to remortgage your house, but you're worried because you are earning less than you were when you first took out the mortgage on your home, there may well still be options available to you.

First of all, just because you're now earning less doesn't necessarily mean you won't be able to remortgage based on affordability, you have to bear in mind that the whole time you've had your mortgage you've been reducing it, so you won't need to earn as much to replace that loan because it won't be as big as it once was.

Another option is to look at your current lender's retention products, these are simple rate switches that can be done in little time with fewer checks than a full remortgage, so you'd get a better interest rate from your current lender but without having to replace the loan meaning you may not have to go through the affordability checks.

If you want to understand exactly how much you can borrow based on your current income, the best thing to do would be to talk to one of our advisers, but we also have a calculator online that could help you out, click here to visit it.