PLEASE HELP - Mortgage app. will I get found out? fraud

rad_2

Please help!
I have split up with my boyfriend who was a big bully and I cant even have a conversation with him anymore.
I had a joint mortgage with him and the house is just a mins walk from my parents and so it means alot to me that I keep it.
To cut a long stroy short he agreed that I could buy him out and I recently got a new job (within the same company that I have worked for a number of years) Ive been messed ablout with my salary and instead of starting me off on the min. for the grading they have set out a plan over 12 months to help me reach this. I did not know this when I applied for my mortgage and have paid the valuation fees, I am now awaiting the valuer to contact me. I am unable to borrow the full amount on my reviewed salary howebver I know that I can afford it. They have written to my company for an employment reference and I am going to (thought about it long and hard - know that its wrong) complete this myself and quote the salary that I did on my mortgage application, otherwise I will loose everything.
Will the lenders find out I have lied?
Do they contact the tax office or take the employers word (ie my employment reference)?
Please help as I need to sort this now!!!
Has anyone else done this before? - what happened?

TangentMan

You are asking us to absolve you from something you know is wrong. That is a decision only you can make.

Have you fully thought through the consequences of something going wrong? For example how many minutes walk away from your parents is your nearest prison?

rad_2

I know its wrong, I should be on the salary that I have quoted and this will step up until I am finally on it next year, I have had so much stress over sorting this out and it isnt just that the house is near my parents.

MortgageMamma

Honesty is the best policy with this one. don't dig yourself into a deeper hole. Call the lender and tell them about the misunderstanding you have had with your employer, there may well be other options they can offer you on a temporary basis to make the mortgage more affordable to you, for example if on captial repayment they could possibly stretch the term, or switch it over to interest only until you reach the specified grading. DO NOT, whatever you do complete the reference by yourself, as the lender will often phone employers also, if you do this you will lose your job as well as your home. Which lender are you with? is it possible your parents could go guarantor on this mortgage just for a year?

Will.Power_2

If the lender 'phones your employer to confirm the reference, which some do either as a matter of course or on a random basis, not only will you not get the mortgage, it's likely that you'll lose your job.
Is it worth the risk?

rad_2

I cant ask my parents to do that and I have applied for the mortgage over the max. term so there is no chance of doing anything there.
I have given my direct line for telephone and fax so if they do contact I will answer. do they contact the tax office after an employer gives a refernce or just the employer to confirm?

MortgageMamma

They dont often contact tax office only to confirm employed or self employed. I think you are making a big mistake doing this and it will only end in tears. who is your lender? you might well be able to get a mortgage off another lender who will lend you the amount you want off your current salary. If you do the right thing with this I will help you with it (at NO personal gain I might add to the site broker bashers)

herbiesjp

What is your real income?
What is the property value?
What is the mortgage amount needed?

You may be surprised at what lenders can offer you

I would definitely come clean with the lender that you have applied to

silvercar

I would speak to your employer and ask if they would confirm that by the end of the year you will be on a salary of X. That way its all above board.

rad_2

Ive got it in writing but the lenders will only base it on what I earn now!

Surely someone else out there has lied on a mortgage application - what happened?

jamesd

rad, the key point is that there's no need to lie. You had a misunderstanding that can be sorted out. Even if this lender doesn't agree, if you accept MortgageMamma's offer she'll probably end up finding you an even better deal!