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Mortgage advice please!

2 replies

friend677777 · 17/06/2018 16:33

I'm posting on here for some simple advice, I've tried googling but there's so much jargon about and noting seems very clear.

The situation: My partner and I are in the process of buying a house. We have been looking since the start of the year but I was made redundant in March. I found another job in April, that week a great house came on the market, we made an offer, it was accepted.

The mortgage has been approved, and now we are waiting for the solicitor to do the surveys etc.

Here's the problem - I don't like my new job at all. I'm on probation until September, but at the moment it's not going well and I doubt I'll even be kept on. I know I'm no good and my employer knows too, so I'm already looking around for other jobs to protect myself.

What I'm wondering is whether the mortgage would be affected if I got another job before completion? Or worst case scenario, what would happen if I'm sacked between exchange and completion - would the mortgage offer be revoked and we'd lose our deposit?!

My partner really doesn't want to pull out - he says he could pay it all in a worst case scenario for a few months, but the amount the bank would lend would obviously be less if it's based on just his income, so I'm worried about what would happen if my job situation changes before completion.

Any advice?

OP posts:
Lazypuppy · 18/06/2018 09:00

Don't leave your current job until completion if you can help it. Work as hard as you can not to get sacked either. It may be ok, but could jeopardise it depending on when the banks ask for references etc for you.

NotSuchASmugMarriedNow1 · 19/06/2018 13:53

Just hang on to your job till you complete. Banks don't like lending money to employees who are still on probation

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