Salary Drop

Mr_BOOMBASTIC

Hi i currently have a loan with Sainsbury's and a mortgage. My circumstances have now changed in that my company has dropped my weekly hours from 43 to 37 this therefore means my salary is no longer what i told the loan company and mortgage company by a considerable amount. Do I need to notify them of this change in my earnings or is it not necessary to do so?

Thanks

Tiddlywinks

Are the applications still ongoing or have they been approved? For how long?

If you are still able to make the payments and the loans have been in place for some time then I would say there is not need to notify them (UNLESS it says you have to in the contract?).

opinions4u

If the loans are live, but you are still going to make the contractual payments, there's no need to talk to them.

Good luck adjusting!