New mortgage after income has dropped

[chonok]

Since being made redundant back in 2011, my income has dropped by approximately 2/3rds, although we can still easily afford the mortgage payments.

We are thinking of moving home, so will probably need a new mortgage, probably around the same value as our current property, but we are not sure yet.

I assume that we are now going to have great difficulty in obtaining a morgage which is more than 3.5x our income (even though we have been paying this fine for 3 years??

Also, just to make things more difficult, I have become self employed since taking out the mortgage!

[vescaegg]

Almost certain they treat each case as a new one. Past payments will have no bearing on a new application unfortunately.
Sarnie may prove me wrong but when I moved with the same lender it was all from scratch.

[Sarnie]

vescaegg said:

Almost certain they treat each case as a new one. Past payments will have no bearing on a new application unfortunately.
Sarnie may prove me wrong but when I moved with the same lender it was all from scratch.

Exactly that. Your previous payment history has no bearing on your ability to secure a new mortgage.

Being self employed is only an issue if you've driven your figures down to reduce your tax liability as it will in turn reduce your lending capacity.

Feel free to drop me a line if you need any help