90 day consultation - do you have to tell lender?

worto03

Hi,

Our house is on the market at the mo and we have found a house we want to move to but my partner has just been told she is entering a 90 day consultation period so maybe made redundant.

Now - she is about to go off on maternity leave anyway for 9 months and we are moving area to a completely new area (although commutable) so we never intended her to keep this job anyway she will be looking for a new job either while she is on maternity leave or when she goes back.

So to our financial plans short (she'll still get her maternity pay even if made redundant) and long term it makes very little diference she only worked 2 days a week anyway but do you have to tell the lender if your put into 90 day consultation or only if your actually made redundant? After the 90 days half of the people (roughly) in consultation will still have thier jobs so if I tell them now but she ends up not being made redundant we could miss out on the house we want

Thanks for any advice,
worto.

luckyfool

Is her income needed to afford the mortgage?

worto03

It has been included in the lending calculations by the lender yes.

We have more information now - there is definately a job there for her and it's likely to be the job below what she does now but with her pay frozen for 3 years so she'll keep her current wages & in fact because she'll go back full time after her maternity when she does go back she'll be on more than double what shes on now because she only does 2 days a week at the mo.

So do I have to tell the lender any of this or only if she actually gets made redundant?

Thanks.

edit - sorry for the slow reply - my laptop broke - all fixed now.

_Andy_

Depends on the wording of the application form.