Signing a new mortgage deal with change to income

[zaffa]

Hi,
We took a five year mortgage deal out in Jan 2019. DH has since taken redundancy and is retraining and completing a degree, which will take longer to do than our fixed term.
I know the payments shoot up at the end of the term but does anyone know how strict the affordability rules are when you come to sign a new deal? We obviously wouldn't want to borrow more money but I don't fancy being on the bank standard rate which is much higher than our fixed rate.
Working out how much we will have paid down by then and if our salaries don't change at all between then and now, I'm worried they will say we can't afford a new fixed rate and leave us on the variable rate. We probably won't look to switch providers until his income has increased again, just lock in a new rate.

Has anyone had experience of this? In the past I've just stuck on the standard bank rate as it was so low but they've wised up to that and the rate is a good 2% higher than our fix.

Thanks!

Very often you can just go onto another fixed rate and the lender doesn’t do any checks. I think I’d only worry if you want to change banks as that would be a whole new application.

We have remortgaged twice with the same provider and neither time have they done any sort of income check or anything so you should be fine

Every time I've refixed my deal with same lender they don't do any further income checks, don't worry!

We're with Barclays and remortgaged a few months ago, no affordability checks done just a simple 10 minute process online

Same here we have three time’s now gone with a new short term fix with our current provider (Nationwide) Each time the rate has been a tiny bit lower and they have never requested even a single payslip or looked at affordability.

So much can change again before your deal runs out but if you stay with the same lender, you will be fine

Thank you everyone! Yes I was grateful we had taken a five year fixed as it has really helped with budgeting for income changes.
Thanks for your advice - very much appreciated!

Same, staying with the same lender they can usually roll you into a new deal without the full income etc checks.

I always took the opportunity to pay a few k off when I changed deal too, and that way I was mortgage free by 50.

@VanGoghsDog that definitely sounds like a plan but sadly that won't be happening for us anytime soon! The budget is tight (but still liveable) but any spare £1k's we have are staying firmly in our savings for any emergencies!

We literally just did our new deal a week ago. No checks just stayed with same lender on a new 5 year fixed deal (repayments have dropped £15 a month. No checks just we’d like to go on this desk please via their website and got a letter saying’tbabks for staying here’s the new deal!’ No payslips, no bank statements....