We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Is it illegal to get a mortgage without informing them of redundancy???

Rooeydoo · 2013-08-30 14:05:40

Hi folks, We're aware of the risks of having a mortgage when without work but I was wondering if it's actually illegal to get a mortgage (we're 1st time buyers) without telling the lender about redundancy??? Background info if it helps - we have a 25% deposit and have almost the same amount of money coming in redundancy…

Comments

CFC Posts: 3,119 Forumite

1 September 2013 at 1:30AM

I think it rather depends on whether you need both salaries in order to support borrowing the amount of money you are looking to get....eg if you are on 30k and are borrowing 90k then it's not an issue. If you are on 30k and your partner was on 60k and you're borrowing 180k, then frankly its madness.

0

This discussion has been closed.

★ ★ ★ Meet your Ambassadors

Is it illegal to get a mortgage without informing them of redundancy???

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free