Voluntary Redundancy & Mortgage Applications

teamtaylos

My husband and I recently applied for a joint mortgage on our dream house and the valuation is taking place this week, so initial credit checks have been done and they have details of our salary, income etc.

Today my company offered up a generous package for voluntary redundancy and I'm confident I can find an alternative job before any potential redundancy money were to run out.

Either way, my husband could afford the mortgage repayments on his own if he had to, but as I say, my intention is to switch to a new job asap.

Basically I won't take the redundancy offer if it will jeopardise the purchase of the house, but I'm unsure if the lender will even find out now the application is underway.

Any advice?!

SLC1

Similarly, advise please re: if VR is due in September and a current mortgage is up for renewal in January, how likely is it that the existing lender or a new lender will offer a new deal, either now or in January. Currently on a base rate less 0.56% deal so any change likely to be painful. Is it possible to renew a deal now or will the looming VR date affect any outcome

bigstevex

With our mortgage application they were only bothered that we had jobs when we applied and that any credit we had was paid off before the mortgage was given as we said by the time we get the house everything would be paid off. No further checks were done on employment/salary! I'd say you'll be safe personally but i'm no expert!