Mortgage renewal when ill health benefits

[BodysBroken]

I realise we may need professional advice, but we're starting to get a bit anxious so I thought this would be a good place to start.

Our mortgage is up for renewal early next year. Previously I was working PT for a reasonable salary. I'm now off long term sick with incurable cancer. I work for a very small business, I ran out of sick pay long ago and there's no critical illness cover, medical retirement policy or anything like that.

I claim ESA and PIP and DH works full time. The outstanding mortgage balance is just under 3x DH's annual income and the loan to value is about 25%. We have 2 DC, no childcare costs.

In this situation are we likely to run into any problems getting a mortgage, due to me not working/my diagnosis? Or does DH earn enough that it's ok? Are we best off just applying in his name and leaving me out of it? And can the house remain in joint names even if the mortgage is just in his name?

Any advice/experience appreciated. Thank you.

You can do an online calculator and see what he could get on his own.
Also if you stayed with the same lender they don’t usually look at your finances you just pick which of the rates they are offering that you want to go into. Eg option a, b or c.
Sorry you are unwell. I think with some googling tonight of an online calculator it may put your mind at rest.

I hadn't considered that they probably wouldn't look at our finances, that's good to know. I've just tried a couple of the calculators and they're showing that DH alone should be able to borrow quite a bit more than we need, which is a relief.

Do you know if it's possible to have a mortgage in a sole name but the property in joint names?

Thanks for your help.

You are unlikely to be able a mortgage in one name if you are both named on the deeds. It would cause an issue for the bank if they needed to repossess.

However it doesn’t necessarily matter that you aren’t working as long as your husband’s income covers the income requirements. I believe most lenders though would treat you as a dependent which could reduce what you can borrow when considering affordability.

As has already been said, if you are staying with the same lender and not borrowing more money, you can just switch to a new deal without new financial checks.