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I suspect the answer would be 'ask them'
Have a chat with a broker would be my suggestion. They are going to be offered rates that would not be offered to you - we were offered 2.5ish5 by Natwest, by 1.79 through the broker, which more than made up for the fee.
Also, for a product transfer, we aren't being asked for income. Which is good. As i have none...
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A FREIND OF MINE... never mentioned change of employment a couple of times. Once I believe he lost his job, or maybe his partner did but they forgot to mention it (he tells me) and just signed the same deal again. Another time I think they went on some bloody hippy gap year type holiday and came back with no jobs and once again just signed the "renew the same" docs.
Not sure I'd have the gaul for those kinda moves myself, plus gap years are for dead beat hippies, but thats my (friends) story.
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(tl;dr - once mortgage in place there's no obligation to tell lender of change in circumstances)
Also a friend of mine who was made redundant while the mortgage application was progressing made a mistake of emailing the mortgage advisor to tell the same. Mortgage advisor 'advised' that he/she shouldn't have emailed (in writing) since he/she had the advisor couldn't proceed with application and told him/her to go with some other mortgage advisor and not mention the redundancy.
That friend is doing well .. collects cameras, last I heard.
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product transfer with current lender (presume this varies from lender to lender but there's again, presume they'll ask to see updated proof of earnings)
I've remortgaged 6 times (three different lenders:Halifax, Coventry BS and Santander) and I've never had to send any proof of earnings when remortgaging with the same company (i.e. a product transfer). The most recent ones with Santander have been all done in a single phone call, no need to even sign anything, no questions about changes, etc.
Moving between lenders and you'll need to provide proof of income.
Any attempt to increasing borrowing (more than just putting the product fee onto the mortgage) with the same lender will trigger the need to prove income though.
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NotThamesWater
chrisbmx116
amey
Greenbank
@CYOA
How accurate is this:
https://www.thisismoney.co.uk/money/experts/article-2120599/Do-I-need-tell-mortgage-lender-Ive-redundant.html
(tl;dr - once mortgage in place there's no obligation to tell lender of change in circumstances)
Not redundant but Mrs CYOA hasn't worked for a couple of years as she's been mumming - we've got 18 months left on ours and I'm self-employed - presume options are:
Presumably, if we apply for a product transfer with current lender and they say 'nah you're not earning enough' they can't renege on the initial mortgage and, as long as we make repayments, they're unlikely to ask for the keys? I suspect the answer would be 'ask them' (Clydesdale) but hesitant to show cards for fear of the worst etc.