mortgage and employment advice please

lynsayjane

I have a friend who is currently trying to purchase a new property with her partner. They have applied for their mortgage and have the mortgage promise in place. Her partner has left his current permanent employer three days ago for a job with a contract firm. As a joiner the work is pretty much guarenteed. However the mortgage company do not lend to contract workers. She is asking if the mortgage supplier will know of his change of job (he is earning double what he was previously) if she supplies wage slips from the previous job which run right up to march this year as this is the job they described when applying for the mortgage.

Thank you for all your help.

JoeK_3

Readig between the lines, a mortgage promise in place can mean different things.

From what I can see, the lender has not seen the salary slips yet and will require them up to date. This means that the new job salary slips need to be produced. According to your description, the lender will not accept contract workers.

Pretty bad planning from him though.
Could he not wait a few weeks?

Anyway, it's not the end of the world as you will need to find a different lender, one that accepts the contract worker or a self certified mortgage lender.

A good whole of market mortgage broker or independent person would be a good idea.

JoeK

herbiesjp

lynsayjane wrote: »

I have a friend who is currently trying to purchase a new property with her partner. They have applied for their mortgage and have the mortgage promise in place. Her partner has left his current permanent employer three days ago for a job with a contract firm. As a joiner the work is pretty much guarenteed. However the mortgage company do not lend to contract workers. She is asking if the mortgage supplier will know of his change of job (he is earning double what he was previously) if she supplies wage slips from the previous job which run right up to march this year as this is the job they described when applying for the mortgage.

Thank you for all your help.

They need to tell the lender of any material changes in their circumstances - a change of employment staus would fit that description.

Knowingly giving false/misleading information would not be advised.

Tell them directly, or find a lender that will agree the mortgage based on their true and accurate situation

HTH