Hi! I just made a new account as my other is too obviously me to disclose so much personal info!

My husband and I are looking to buy our first home, and have been talking with a mortgage broker about our options. He has a stable job earning £28,000 gross, while I am self-employed (~£25,000 taxable income). I have 9 months of full-time earning accounts and a few previous years where I was freelancing part-time. Confirming what we'd previously read, the broker said that it would be best to apply for a mortgage in his name, then re-mortgage later for better terms when I have a couple of years of full time earnings.

The best deal that she's found is a 40-year term. As UK mustachians will know, we can only have a few years at a fixed interest rate, but she suggests remortgaging after that.

The two options that she outlined are as follows (both using his income only):

2 Year Fixed Interest rate at 2.0%, 40 years - ~£390/month

5 Year Fixed Interest rate at 2.5%, 40 years - ~£430/month

She recommended we take the 2-year option with the lower interest rate (and lower payment) and remortgage at the end of the fixed period when I will have ~3 years of full-time self-employed earnings and can be added to the mortgage to bring the term length down.

I'm just wondering if anyone has any thoughts. Initially I thought it would make sense to take the longer fixed rate as interest rates could well rise, but if we're going to remortgage at the end of the term either way I don't suppose there's much in it.

Apparently there's a 3% fee if you make additional payments during the fixed interest period, and after that you can pay off an additional 10% of the principle a year.

Thanks in advance for any thoughts :)