Should i inform mortgage lender of my new job since the offer but before completion?

Thrugelmir

Gazumped wrote: »

By biased I mean, he will say do not take the job and just make sure the mortgage goes though.

He gains from me completing not from me getting a new job. So he is not going to advise me to take a job which would jeapodise his commision, that is what meant.

Its your decision. The risk is all yours.

The downside is that a black mark will noted on your file for future reference should it backfire. Trust and integrity are important factors in monetary dealings.

Gazumped_2

I completely agree.

I want it all done properly an above board. My main priority is the house.

I am just trying to find out where I stand if say for example I was offered a job tomorrow. What would be the ideal course of action in order to make sure no.1 that the house goes though unhindered and no.2 that I could take the job?

beecher2

Gazumped wrote: »

I completely agree.

I want it all done properly an above board. My main priority is the house.

I am just trying to find out where I stand if say for example I was offered a job tomorrow. What would be the ideal course of action in order to make sure no.1 that the house goes though unhindered and no.2 that I could take the job?

If you're offered the job tomorrow, phone your FA and ask him the same questions, and phone the lender for advice too. Don't hide anything from anyone.

Personally I'd concentrate on preparing for the interview, and see what hand fate deals you.

Gazumped_2

Yes I think that is the best option. Can always turn the job down and continue with the mortgage as is.

Do you think that just calling the lender would change things. I.e. you ring and say where would I stand with a new job. They say you have to be rescored, so I say ok leave it. Do you think there is a chance they would then rescore as I have spoken about leaving my current job and would be expecting me to change jobs after completing anyway?

beecher2

Gazumped wrote: »

Yes I think that is the best option. Can always turn the job down and continue with the mortgage as is.

Do you think that just calling the lender would change things. I.e. you ring and say where would I stand with a new job. They say you have to be rescored, so I say ok leave it. Do you think there is a chance they would then rescore as I have spoken about leaving my current job and would be expecting me to change jobs after completing anyway?

I doubt it, but would it matter if they did rescore you? Chances are that they'll do another check before completion anyway.

Gazumped_2

No the rescore would come out exactly the same I presume as nothing has changed, it could just delay matters.

beecher2

Gazumped wrote: »

No the rescore would come out exactly the same I presume as nothing has changed, it could just delay matters.

I wouldn't worry about it and would just focus on getting the job for the time being.

Gazumped_2

I know I am getting worked up about this and I may not even get the job.

I just don't want to be offered this job and find I have to turn it down, as it appears a good job, because of mortgage completion.

Although the house is the main priority.

hillcats

one thing nobody has mentioned is, as you are going into a new job this could be seen by any potential lender as a probationary period, which they may well see as an increase to the risk unless any new job is with the same employer of course, as it means you lose out on the number of years with same employer etc which obviously looks good...

Gazumped_2

This is what I was actually refering t.