Santander mortgage application - applying for new job

amazinga

My partner and I are moving house and have to take out a mortgage with our current lender, Santander, to avoid an early repayment charge (ERC) due to an existing fixed term mortgage.

We can't apply for the mortgage until May or else we'll have to pay the ERC but in the meantime my partner is currently applying for a better paid job closer to our new home. Our current salaries should be fine for affordability purposes.

My concern is what happens if my partner gets a job offer/starts a new job between when we apply for the mortgage (May) and when we complete (hopefully June). Do we tell the mortgage company?

If we have to wait until he's had a first payslip in a new job, this could massively delay the whole process, especially as many employers don't process your first paycheck in the first payroll and you have to wait until the second month of working there to get paid. Can we get away without telling the mortgage company if the job hasn't started yet?

Will the mortgage company contact his employer and check whether he's handed in his notice?

Many thanks

Thrugelmir

Santander might ask for an employment reference. So the resignation would come to light if they did.

The new payslip would give the game away. As would have no year to date earnings .

kingstreet

You have an obligation to report any change in circumstances between the point of application and completion taking place.

The lender has the right to decide if it still wishes to lend to you in the light of that change.

Some lenders have no issue and will lend with an offer letter and confirmed start date, or during a probationary period. Can't speak for Santander though.