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Original poster

Mortgage offer and change of job

11 replies

charliebelle · 13/10/2023 16:19

We've recently sold our property and had an offer accepted on another. We will be porting our mortgage, and yesterday I had the call with the mortgage lender to start the process, went through all the finance bits (income, expenditure etc) and they sent through the mortgage illustration. Today, my DH has been offered an amazing new job, which will be remote and a £10k pay rise. Same field and job title as he's in now.

We need to tell our lender this, there's no question about that. But has anyone had experience of this? I'm scared they will pull the offer.

OP posts:
Messyhair321 · 13/10/2023 23:10

why do you need to tell the lender? when we moved we threw both of our jobs because we relocated and started something new, they don't care as long as they tick the boxes at the time of application, not sure I would bother saying anything at this stage.

mrsbyers · 13/10/2023 23:11

no need to inform them but why would they pull an offer when he is earning more ?

NoWordForFluffy · 13/10/2023 23:12

I'm pretty sure our broker didn't tell our lender that I'm in my notice period. He said as long as I was going straight to another job, on the same or more pay, it would be fine.

Twiglets1 · 14/10/2023 07:57

Yeah I don’t think I would mention it… just in case it raises a red flag.

You were telling the truth at the time you answered the questions and this job actually makes the repayments more affordable but why rock the boat if it’s all going ahead smoothly?

Magicisuponus · 14/10/2023 08:05

We did tell our broker because we were relocating due to new jobs. For some lenders it can be an issue (not for all) and we needed proof of no probation period. We had no probation so it was all fine.

Our broker said that are lenders who will only accept 6 months payslip and will not accept a contract only.

Kate9423 · 14/10/2023 08:24

You don't need to tell them

Original poster
charliebelle · 14/10/2023 09:56

Thanks everyone. We are fairly sure we need to tell them as it states very clearly that we have to inform them of any change in circumstances, otherwise it's considered mortgage fraud. I appreciate he'll be earning more however the perceived risk to them is that he'll be in his probation period (although the contract doesn't mention this explicitly, it's implied by his notice period in the first three months only being one week). It does however seem fairly common, so potentially I'm just worrying unnecessarily! It would be a bit daft of them to pull it though, as we are porting to a cheaper property, and if they did say no they would still be our lender in the more expensive house we currently live in! But I don't think underwriters think in those terms!

OP posts:
NoWordForFluffy · 14/10/2023 10:08

charliebelle · 14/10/2023 09:56

Thanks everyone. We are fairly sure we need to tell them as it states very clearly that we have to inform them of any change in circumstances, otherwise it's considered mortgage fraud. I appreciate he'll be earning more however the perceived risk to them is that he'll be in his probation period (although the contract doesn't mention this explicitly, it's implied by his notice period in the first three months only being one week). It does however seem fairly common, so potentially I'm just worrying unnecessarily! It would be a bit daft of them to pull it though, as we are porting to a cheaper property, and if they did say no they would still be our lender in the more expensive house we currently live in! But I don't think underwriters think in those terms!

If people's brokers know, and aren't informing lenders, I really don't think you need to worry. Ours was very clear that the change in circs meant earning less, or having a long gap between jobs, not changing jobs and earning the same / more in the same industry.

Reallybadidea · 14/10/2023 10:14

What might happen if you do tell them - they might (unlikely, but possible) change or withdraw your mortgage offer

What will happen if you don't tell them - absolutely nothing

HarrysStyle · 14/10/2023 10:15

I got a new mortgage when I moved 2 hours away, so it was obvious I'd be leaving my job.

Nobody asked what I'd be doing to pay for this new mortgage...

Catopia · 14/10/2023 18:36

I had this two years ago. Even though it was an enormous pay rise, the offer did get pulled as they needed first payslip, which I wasn't going to get until week 7 of the new job because of when I started, and it all just came together at the wrong moment... We went through a broker and managed to get another offer and it was all fine in the end although a rather stressful few days.

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