Can you refinance your mortgage while on unemployment?

Answer 1

Anything is possible, but it would be unlikely that a creditor would reconsider it if there were no certainties in repayment. It's always best to try, by communicating with the lender, as all they can do is say no (or call the note due!)

Answer 2

No, but lenders should consider individual cases. For example if you wanted to move house as it needs modernising, like me and you have more than 80% equity in your current property. You would naturally think if moving is viable, whatever your circumstances are.You are in a better position than a couple who are working all hours to pay the HIGH mortgage payments.You are a less risk to the lender. Also jobs are never secure these days and if you have a family like me you would almost 90% get state benefits, which are more secure than any employer, who can hand you your P45 anytime.But I know lenders will not lend because they would find it extremely difficult to repossess from the Unemployed or the disabled for that matter. They are there to make money and the Unemployed are no interest to them as they are scared of legislation, even if an Unemployed or disabled person has a mansion without a mortgage outstanding!!!! They will not lend. Its their loss!!! Anyway who wants a mortgage anyway!!!

Answer 3

No, not currently. You will have to be employed to qualify for a refinance.

Answer 4

yes