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Really need some help!! Please...??
Miss_Merlot
Posts: 100 Forumite
This is long one but please bear with me - help urgently required...
So situation is this:
2 weeks after buying a flat and taking out a mortgage my husband and co-owner proceeds to have a suspected (not confirmed) TIA, (in retrospect possibly combined with stress / virus), 999 is called, fear and terror, husband signed off work for 2 weeks, after which he goes back to work, only to be promptly fired on this second day back (employers, presumably, having checked he wasn't about to drop dead on the first).
How much of this was due to illness and how much due to prior performance is debatable - they clearly got spooked by his illness and built a case against him in his absence, as for the whole last year everyone (apart from perhaps the big boss) all liked him and thought he was doing well (as did I...). Point being that it was a shock and there was not prior warning at any time.
Not looking to sue for wrongful dismissal - too much hassle and stress, and would probably end up losing...
Not good news, but we are each insured for the whole value of the mortgage, so can claim on that, I think.
However, I since found out that my husband told me a bit of a fib (trying to keep my feelings about this out and just focus on the facts...).
He let me believe he had passed his probation at 6 months in the job, when in fact it was extended a year to enable him to meet sales targets. While he was ill (I later found out) he was sent a letter extending it a further year in the absence of an end of an end-of-probation review (who knows whether he would have passed this or not, had he not been ill...), so was officially fired while still in his probation period.
When taking out our mortgage and our insurance, no questions were asked about probation periods - only that we had been in our jobs more than 6 months (which we had) and that we didn't know of any reason for pending unemployment or redundancy (which we didn't - or at least I certainly didn't...).
On the employer section of the insurance claim form, husband's employer has put "did not extend probation" as the cause of unemployment and stated the day husband was fired as the first day of being given notice his job was at risk (which, from our point of view, and in all honesty I think always theirs, it really was!).
Just a bit paranoid that the insurance will not only reject the claim due to the probation thing (not in itself a disaster as my salary can cover the mortgage in the short-term anyway / we have a lodger to cover half the mortgage anyway / my dad is quite well-off, so there is zero danger of defaulting), but will also pass on to the mortgage provider (Nationwide) about the probation period and they will use that as an excuse to invalidate the mortgage, although the question was never specifically asked during the application process or on the appliation form...
Have not yet told mortgage provider about loss of husband's employment as yet, as like I said am in a position to pay the bills at the moment - but obviously could still really use the money provided by the claim.
Can they revoke a mortgage after the event (bar in cases of criminality maybe), or am I just stressing needlessly...???
Obviously, if I had known any of the above earlier, I would not have bought a flat, so please be gentle - anything you say about my husband's massively poor judgement is nothing I haven't already thought or felt myself...
So situation is this:
2 weeks after buying a flat and taking out a mortgage my husband and co-owner proceeds to have a suspected (not confirmed) TIA, (in retrospect possibly combined with stress / virus), 999 is called, fear and terror, husband signed off work for 2 weeks, after which he goes back to work, only to be promptly fired on this second day back (employers, presumably, having checked he wasn't about to drop dead on the first).
How much of this was due to illness and how much due to prior performance is debatable - they clearly got spooked by his illness and built a case against him in his absence, as for the whole last year everyone (apart from perhaps the big boss) all liked him and thought he was doing well (as did I...). Point being that it was a shock and there was not prior warning at any time.
Not looking to sue for wrongful dismissal - too much hassle and stress, and would probably end up losing...
Not good news, but we are each insured for the whole value of the mortgage, so can claim on that, I think.
However, I since found out that my husband told me a bit of a fib (trying to keep my feelings about this out and just focus on the facts...).
He let me believe he had passed his probation at 6 months in the job, when in fact it was extended a year to enable him to meet sales targets. While he was ill (I later found out) he was sent a letter extending it a further year in the absence of an end of an end-of-probation review (who knows whether he would have passed this or not, had he not been ill...), so was officially fired while still in his probation period.
When taking out our mortgage and our insurance, no questions were asked about probation periods - only that we had been in our jobs more than 6 months (which we had) and that we didn't know of any reason for pending unemployment or redundancy (which we didn't - or at least I certainly didn't...).
On the employer section of the insurance claim form, husband's employer has put "did not extend probation" as the cause of unemployment and stated the day husband was fired as the first day of being given notice his job was at risk (which, from our point of view, and in all honesty I think always theirs, it really was!).
Just a bit paranoid that the insurance will not only reject the claim due to the probation thing (not in itself a disaster as my salary can cover the mortgage in the short-term anyway / we have a lodger to cover half the mortgage anyway / my dad is quite well-off, so there is zero danger of defaulting), but will also pass on to the mortgage provider (Nationwide) about the probation period and they will use that as an excuse to invalidate the mortgage, although the question was never specifically asked during the application process or on the appliation form...
Have not yet told mortgage provider about loss of husband's employment as yet, as like I said am in a position to pay the bills at the moment - but obviously could still really use the money provided by the claim.
Can they revoke a mortgage after the event (bar in cases of criminality maybe), or am I just stressing needlessly...???
Obviously, if I had known any of the above earlier, I would not have bought a flat, so please be gentle - anything you say about my husband's massively poor judgement is nothing I haven't already thought or felt myself...
0
Comments
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They cannot do anything about your mortgage - they are already stuck with it.
Wish him luck, I had a TIA just over a year ago. I have short-term memory problems and my balance is shot to hell and I'm a lot more clumsy, but I'm otherwise okay and can work and function pretty normally. I couldn't drive for a month afterwards, but it isn't a notifiable condition if there are no recurrences soon after.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I didn't know insurance would pay out after getting sacked?0
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It's unemployment insurance so I assumed it would...? Just read the small print now and it says only in cases of gross misconduct etc would they not pay out.saverbuyer wrote: »I didn't know insurance would pay out after getting sacked?0
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Thanks kingstreet!kingstreet wrote: »They cannot do anything about your mortgage - they are already stuck with it.
Wish him luck, I had a TIA just over a year ago. I have short-term memory problems and my balance is shot to hell and I'm a lot more clumsy, but I'm otherwise okay and can work and function pretty normally. I couldn't drive for a month afterwards, but it isn't a notifiable condition if there are no recurrences soon after.0 -
Miss_Merlot wrote: »It's unemployment insurance so I assumed it would...? Just read the small print now and it says only in cases of gross misconduct etc would they not pay out.
But he didn't get past probation. Really can’t see how they will pay out on this.0 -
Can but try! Am not so worried about that as the possibility it will get back to Nationwide and they will have a freak out as a result...saverbuyer wrote: »But he didn't get past probation. Really can’t see how they will pay out on this.0
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I, personally, have no idea.Miss_Merlot wrote: »Am not so worried about that as the possibility it will get back to Nationwide and they will have a freak out as a result...
But if kingstreet says it can't happen then I wouldn't worry about it.0 -
Nationwide routinely accepts applicants in a probationary period, so as long as it was disclosed at application, it shouldn't be a problem.
Like I said, they are stuck with the mortgage now. There's nothing they can do to you to reverse it.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
That's the thing - it wasn't! I also didn't know, but on the other hand, I don't think we were actually asked...kingstreet wrote: »Nationwide routinely accepts applicants in a probationary period, so as long as it was disclosed at application, it shouldn't be a problem.
Like I said, they are stuck with the mortgage now. There's nothing they can do to you to reverse it.0
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