Proving job is "ongoing"

smallpurplepill

Hi all

Does anyone know, what sort of proof (if any) banks/lenders are after that a job is "ongoing" and not going to come to an end etc. I'm full time employed in a 'permanent' role (have the contract, payslips etc etc to back this up) but from the questions asked on the various forms it looks like I have to declare I'm not aware of any impending changes to employment and it's an ongoing job.

As far as I'm aware this is the case - I havent resigned, been under a warning or made redundant etc yet obviously Directors etc make decisions about redundancies and so on long before the general staff are actually aware of them. How much "due diligence" do I actually have to do on the job and company to 'prove' that it's ongoing? I've had chats with HR and directors, read between the lines of press releases and found out some figures (legitimately) about finances and such but don't know what more I can do to prove it! How do they know I won't fall out with my boss and resign next week!

One thing that might complicate it (does anyone know) is although I've worked there over a year, during that time the company was taken over by another one (though I still work for the same legal entity and have the same contract, as the Ltd co that is actually our employer is now owned by another "holding company" etc), they haven't said anything about redundancies or "synergies" and so on, as far as I know it is just for expansion and such like, I am scheduled to work on projects for the foreseeable future etc. THough if I was the lender I'd be very wary of someone in this situation and would assume the employer had some plan that they employee wasn't aware of...

Can anyone help? I feel like I've finally got to a year working for them so can now apply again (this has been going on for years and years now with no success!) only to fall foul of this... I guess what I am asking is how do you prove that something is *not* the case, when it could just be (for all they know) that I have had a letter saying I'm being made redundant or whatever, and just covered it up! They could enquire with HR I suppose but no HR person would put in writing "So and so is guaranteed to have a permanent position for the foreseeable future as Office Person..." I'm sure!

I would also be looking for only a modest amount (compared to the amounts some people seem to borrow) due to saving up a deposit over the 10 years I've been unable to buy already, so worry that they'll think the deposit is out of proportion to my job and isn't genuine...

Thrugelmir

I'm full time employed in a 'permanent' role (have the contract, payslips etc etc to back this up)

Then not an issue to be concerned with.

When a Company is taken over employees are protected under TUPE regulations. So no concerns there either.

Just answer the questions in an honest manner. i.e. "not to my knowledge".

getmore4less

In this case TUPE probably does not apply.

Your situation is probably better than every public employee.

I bet a few of them are getting new mortgages.

smallpurplepill

Thanks for the replies!

I wasn't sure about the 'TUPE' bit either - I haven't had anything like this as there was no change of contract as such (or company we are "immediately" employed by) but have been told it doesn't look good to the banks that I've been in "this employment" for only a few months (ie post-takeover), "previous" employment (actually at the same co) for the part of the year before the takeover, and my previous role to that I left after only a few months (totally separate company and I did voluntarily leave on good terms for career progression, wasn't "sacked" or "suggested to resign" etc.)

The other issue is I have 2 periods of "unemployment" within the last couple of years. One was for only 2 days though (left job on Friday started new job on Monday - in my resignation letter I asked for my last day to be the sunday but "they don't do that, it goes back to the previous Friday as you don't work weekends"). In the other case a week between leaving and starting the new job. I wasn't specifically doing anything during these periods as they were just "time off", well I was still studying with the Open University but because it's distance learning it doesn't count I assume. I couldn't believe despite being in full time work for over 10 years my continuous employment is broken up by a week between changing jobs when I already had the unconditional offer in hand and a start date but I guess I was young and naive!

Based on income and deposit (I have over £100k in savings in my name albeit I wouldn't use all of that for the deposit) etc I thought it would be straightforward and assumed that if my own (current account) bank wouldn't want me then no one would but perhaps a broker is better?

Short of signing some sort of legal undertaking (?) I'm not sure what more I can do to convince them I'm not a "flight risk" from this company! I feel like giving up with all this, it's like being on trial!!

hcb42

a weekend off, and a week off are not exactly unemployed periods!

getmore4less

You treat the employment as continuous and use the earliest start date where takeovers or TUPEs apply.

antrobus

smallpurplepill wrote: »

... during that time the company was taken over by another one (though I still work for the same legal entity and have the same contract, as the Ltd co that is actually our employer is now owned by another "holding company" etc),...

TUPE does not apply to:

• transfers by share take-over because, when a company's shares are sold to new shareholders, there is no transfer of the business: the same company continues to be the employer

http://www.acas.org.uk/index.aspx?articleid=1655

Now that we've dealt with that issue, the answer to the OP's question would be that any banks/lenders would expect nothing less than 100% honesty when completing a loan application. However there is (as far as I'm aware) no requirement for an applicant to conduct any research into the security of their employment by interrogating HR, or supply any particular evidence of their employer's intentions in this regard.

smallpurplepill

Thanks all!

By "100 % honesty" etc - of course I intend to answer any questions honestly

Do I have to disclose as a material fact my 'worries' over job security and so on? They aren't based on anything concrete, just my general anxiety (which I have an official diagnosis for) - I have mentioned this to friends and colleagues though, that due to the industry we work in, history with take over, my personal background etc that the bank won't be interested, so if I am ever approved and the bank want to call in the loan, any friends etc would be able to say I had doubts from the outset :cool:

Wh05apk

You're worrying too much, provided the job is "permanent" and you are not under notice of redundancy, or have not been told you are likely to be made redundant you are fine, a lot of people are feeling vulnerable, as long as it's only a feeling and general rumours there is nothing to worry about.

Obviously if you feel your job is at risk, you may wish to re-consider whether now is the time, failing that take some redundancy cover.