Our sale is ready to go and the local searches are due back on Tuesday for our purchase.
We are porting our mortgage, lenders happy with the valuation on purchase, lots of equity in our sale, small mortgage, all should be fine.
Except that dh may be made redundant next week (sole wage earner, I get DLA x2 and carer allowance).
He is planning to negotiate a pay off on Monday which may cover the mortgage.
But if it doesn't, how long will we have to complete our sale/purchase? He gets a new wage slip on the 25th of this month so I'm thinking he would have until the 25th June?
House sale has to happen and renting is a nightmare at the moment and made worse because we have dogs.
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How long after local searches? Think dh may loose his job
Minimalme · 14/05/2022 17:55
Calmdown14 · 14/05/2022 19:10
Actually on reading this again, at the end of the process, if you port the 70k mortgage you already have, you'll be debt free and have 50k in the bank?
In that case I definitely wouldn't tell anyone about the redundancy. Have you already submitted your proof of earnings?
The 50k savings will allow you to pay the mortgage for quite some time so there's no real danger of defaulting and your outgoings will be so much lower that as long as your husband has a job of pretty much any kind you could cope?
alexdgr8 · 14/05/2022 18:52
i think you mean your decline began...
not your demise.
at least i hope so.
wishing you well.
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