Job change during mortgage

rachael084

Hello, some advice please!

My husband and I are in the process of buying a house. Our mortgage has been approved and we have the survey/valuation next week.
My problem is that I've just been offered a new job on a much lower wage (which I really want). Will the bank need any more employment details? I can still afford the mortgage but I'd rather not go through the Spanish inquisition again. My dad has said not to hand in my notice but I'd rather get on with it.
Thank you.

N9eav

Seems to me the Mortgage provider made you the offer based on your income and circumstances provided at the time of the interview. Most peoples circumstances change during the life of a mortgage and as long as you pay each month, they are happy.


My only concern would be submitting financial figures if you knew at the time of application that your circumstances were about to change?

kingstreet

You'll have to go through re-assessment and many lenders won't lend until any probationary period has ended.

You need to establish your lender's policy before you act.

rachael084

Ok that's really helpful.
I didn't realise when we went through the initial application that my job could change. A company I've interviewed for in the past got in touch.
I will hold fire for the time being then.

Thrugelmir

rachael084 wrote: »

I can still afford the mortgage but I'd rather not go through the Spanish inquisition again.

Did you read the declaration on the mortgage application form. When you signed it? They are put there for good reason. Mortgage fraud is not advisable as it's not just the lender that you applying through that will take action. All Council of Mortgage Lenders members share the same database.

The Spanish Inquisition is really the less painful choice.

amnblog

Like most things in life - listen to your Dad.