If on permanent health ins can switch...

[skysareblue]

Good morning.
I am currently employed but receiving income protection 75% of my income as had accidenr few yrs ago. My question is would a bank accept me if I wanted to switch mortgages to a new bank? Considering i am on sick leave. Thanks so much.

 

[Dave Vanian]

What's the likelihood of your being back to work in the near future? A mortgage switch involves making a new mortgage application to the new lender and the criteria are the same as for any other mortgage. I on't think that a bank will take you on for a new mortgage if your income derives from an Income Protection claim.

 

[skysareblue]

Thanks Dave for your reply. Unfortunately doesn't look good for me to return to work place.

 

[RedOnion]

@skysareblue
What lender are you with? It might be possible to get a better rate without switching.