possible loss of job with mortgage approved

crispy1955

Hello need some advice, my daughter and her partner got there mortgage approval yesterday, payed the £1000 fee and a valuation fee, today he got told the company he works for is up for sale there was some mention of administration and loss of job if not sold, where do they stand with the offer, he seems to think he can find another job quickly but i'm not so sure, the property they are buying is mine and being sold to them at a greatly reduced price and they have a good 5yr fixed being offered, I also yesterday had a offer accepted on a property I wanted, but now dont know what to do as I was using the cash from the sale to fund my purchase, any advice welcomed
:undecided

Thrugelmir

Postpone the transaction. As the potential loss could far exceed £1,000. No just monetary loss but credibility with mortgage lenders.

ACG

There are 2 ways to look at this:
1) Its none of your business,
2) Your looking out for your daughters and her partners interests.

I would fully expect my mum to say something to me, to ensure I knew what I was doing. I wouldnt expect her to get involved though... im a grown adult and I can make my own mind up. If I found out my mother in law had done anything more than expressed an opinion I would probably fall out with her.

However, the reason for that is I am pretty good with money (its my job to be), I also know if I had to close my business down tomorrow I could get a job the next day with various different people - purely because of the people I know.

Ultimately, it is none of your business. They should inform the lender, but if they dont that is down to them not you (in my opinion).