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Impending company name change - what to tell lender
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FTB-FTW
Posts: 115 Forumite

Hi
I'm about to re-mortgage my flat, broker is calling in an hour to confirm everything.
Very recently, we found out at work that the company I work for is about to be merged into another company (also owned by the same parent company), and as part of this process will have its name changed. I don't know how long this process will take but it's highly possible it will overlap with the remortgage process.
Is this likely to cause me any problems? What I am hoping is that when the new lender checks details they will simply contact someone at my company who will confirm that I've worked there for X years regardless of what the company is now called. But I'm worried in case it won't be that simple.
Should I mention something to the broker, or is it going to throw a spanner in the works in case this is counted as a 'new employment'? I'm not yet entirely sure how my contract will be affected but assume it will be a TUPE-type deal.
I haven't worried too much about this up until now as my partner who I am taking out the mortgage with earns 3 x what I do and can cover it anyway (don't think last lender even bothered checking my details beyond credit score) but of course this one may be different.
Or, should I simply give the name of the parent company which is not going to change? Help!
I'm about to re-mortgage my flat, broker is calling in an hour to confirm everything.
Very recently, we found out at work that the company I work for is about to be merged into another company (also owned by the same parent company), and as part of this process will have its name changed. I don't know how long this process will take but it's highly possible it will overlap with the remortgage process.
Is this likely to cause me any problems? What I am hoping is that when the new lender checks details they will simply contact someone at my company who will confirm that I've worked there for X years regardless of what the company is now called. But I'm worried in case it won't be that simple.
Should I mention something to the broker, or is it going to throw a spanner in the works in case this is counted as a 'new employment'? I'm not yet entirely sure how my contract will be affected but assume it will be a TUPE-type deal.
I haven't worried too much about this up until now as my partner who I am taking out the mortgage with earns 3 x what I do and can cover it anyway (don't think last lender even bothered checking my details beyond credit score) but of course this one may be different.
Or, should I simply give the name of the parent company which is not going to change? Help!
0
Comments
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Tell the broker who will tell the lender in covering notes - shouldn't be the slightest problem.
.... certainly less than it 'being spotted' and raising subsequent questions !Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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