Will bank check my employment status for remortgage?

Oo-Paul-oO

Hi All
After 21 years as an Analyst Programmer at the same company, I was made redundant and left full time employment in December 2008. For the last 5 years I had also been analysing horseracing data in my own time and making a good second income from betting. Since my redundancy I have made this my full time “job” and believe I will continue to make a reasonable income from it.

Now the reason for this post is our mortgage, which is currently fixed until the end of June 2010 with the Halifax. I am aware from other posts that were I looking for a new mortgage, then a job of “gambler” would not get me very far, but we have been with the Halifax for many years. In the 22 years that I / we have had a mortgage there has never been a missed payment.

When I go back to Halifax in a few months time, I guess I will be asked about my current employment status. Don’t really want to say “gambler” as I am looking to secure another fixed / tracker mortgage. The question is ... IF I state that I am still employed (i.e. with the same company I was for 21 years), with my perfect repayment record, will they check, or indeed will they already know I am technically unemployed?

Thanks for any advice

Paul

beecher2

If you stick with Halifax they won't ask about your current employment status. You won't be remortgaging, just getting a new deal. It'd only be a problem if you moved to a new lender.

beecher2

bungle4x4 wrote: »

are you not concerned about the possibilty of fraud? or is it worth a punt?

No fraud involved - the OP isn't remortgaging.

Just make sure you aren't asking for more money as that would mean Halifax would look at your income.

_Andy_

As stated, the OP is now limited to staying with his current lender.
Any notion of him moving lenders and lying about his employment is ludicrous and will be found out very easily.

Conrad

BTW even if you ever do need to state a job title, I'd imagine something like self employed trader or self employed analysist would suffice.

In any event most lenders give restricted computer applicantion employment title options and more often than not the applicants ends up having to plump for something only loosely resembling thier actual title.

Oo-Paul-oO

Hi Guys

Firstly thanks for the replies, all much appreciated. Am fully aware I need to stay with the Halifax (and don’t need to borrow more) but to be fair they have been competitive in the past. To be honest, despite the fact I asked the question, my nature means I would struggle to say I was still employed, but it sounds like they won’t even ask me if I simply try to arrange a new deal

Thanks again

Paul