R
Remortgager
Guest
I work part-time, but my income is supplemented with FIS. I have a very low mortgage (37k) but high free equity as the house is worth over 400k. I have never been behind in paying back my mortgage, or in the red. I have approached a Bank to remortgage to 100k, to use some money for a foreign investment, with guaranteed rental. Also I wish to pay off my car loan. Altogether this would reduce current monthly outgoings, generate some income and begin a cycle where I would be able to remove the present reliance on family supplement. But no, the Bank says it will only take my PAYE income into consideration, even though this is not even half my income. I have not applied to the underwriters as the mortgage adviser did not hold out much hope and I do not wish to be refused, as it is a question on some applications. Is there any way around this constraint, whilst still being able to avail of a tracker rate? :/