Got AIP based on misleading info

locdinh

So mortgage adviser let me know that i've got the agree in principle for the full amount of 95% mortgage.
Now i need to prepare documents for the application. However i realised my girlfriend isn't actually fulltime employed by Santander as we told them before, she works as a contractor for Santander instead (for about 1 year so far). Do you think it is gonna be a problem? I rang my adviser but he is in Holiday at the momen

Let_Us_See

In short....yes. Lending criteria at 95% LTV is very tight and this detail will be important and AIP will need re-assessing.

ACG

Its going to make a difference, if shes been there for a year then it may not make a huge difference - whos the lender?

GMS

Surely you were aware of the employment situation when completing the AIP?

locdinh

Thanks guys for getting back with me. The lender is Halifax.

When i spoke to the adviser over the phone, i did repeat that she is a contractor but the guy didn't seem to know which category to put it (self employed / employed), he asked me if he could put it down as Employed by Santander, i wasn't sure myself that contractor was self-employed so i stupidly said Yes.

Until last night we looked back to the PaySlip & no where on there it mentions Santander, it only has the name of her umbrella company. We're really getting nervous now as we're preparing to do the application on this Sunday

droiderm

Some mortgage advisers aren't interested in the facts I am afraid
In my experience don't even ask you all of the questions they should
A cynic might say they are happy to chance it, irrespective of the consequences or cost to you .

locdinh

Should we ask the adviser to redo the AIP? I'm just worrying that it will harm our credit rate

droiderm

I would make sure that anything submitter is fully factual .

Let_Us_See

Sloppy, careless work. Both you and adviser need a kick up the backside.

Re-doing AIP should not be a problem as Halifax's has a soft footprint.

locdinh

I guest what i should do now is get the AIP re done asap before we waste any more money on fees (already paid £250 to reserve the plot, and they only keep it for a month )

JimmyTheWig

locdinh wrote: »

it only has the name of her umbrella company.

So is your girlfriend fully employed by the umbrella company?
Do the umbrella company take off tax and national insurance?
Do the umbrella company give her paid holidays?

Does she (in full or in part) own the umbrella company?

If yes to the first three and no to the fourth, then I would have thought that it is something that needs to be changed but shouldn't affect the outcome.
Having an employment contract with the umbrella company shouldn't be any different to having an employment contract with Santander, should it?