Contracts exchanged but new job offer

Westminster

No chance of delaying your start date until the 19th March + the length of your current notice period?

amnblog

amnblog wrote: »

Santander do not like to release funds before you start your new job.

If our poster is being upfront with the Lender, and they Lender has a problem - delaying start date does not help.

whysoserious13

Westminster wrote: »

No chance of delaying your start date until the 19th March + the length of your current notice period?

Delaying start date until 26th March, notice is 1 week, i dont see why that would make a difference?

Mr_Goodkat

It seems that you have got into this house buying and potential job change situation without good independent advice and understanding the situation.


You state you have exchanged contracts so you are legally bound to complete the purchase of the property, it is not only your deposit and fees that are at risk you could face litigation from the vendor if you do not complete the purchase.


You should have known or been advised to stall on the job hunt front until you had completed the purchase as at that point the mortgage company only cares about receiving their payment every month.


Your mortgage offer and the paperwork you have signed will include a commitment to inform the lender of any change in your circumstances and a new job is certainly that. If you inform the lender they could decide to withdraw the mortgage offer. If you don't declare but they somehow find out e.g. your solicitor will be acting for both you and the lender so if they were to find out they would have to inform the lender. If the lender finds out from someone other than you then I expect you would lose the mortgage offer as you have failed to declare the change in circumstances and as per your posts on here this is a calculated decision not just a genuine oversight.


What is the salary difference in jobs? Is a permanent job or a fixed term contract? Is there a probationary period? If so what is it?


These are all things the lender could be concerned with but more importantly you should be concerned with.


What happens if you take the job, complete the purchase then don't pass probation (if there is probation)?


I would in your situation see if you can delay committing to taking the job and tendering your resignation until after the completion of the house purchase as I would not want to risk declaring and the offer getting withdrawn or the lender finding out another way and pulling the plug.


Good luck.

silvercar

Leon_W wrote: »

A bit of common sense is needed here.


Nothings signed or sealed so if it were me I'd just roll with it. In your shoes I wouldn't want to risk losing my deposit either.

I agree.

Why rock the boat. As far as your concerned you had a mortgage offer based on an income of XX and you still have that income.

whysoserious13

Mr_Goodkat wrote: »

What is the salary difference in jobs? Is a permanent job or a fixed term contract? Is there a probationary period? If so what is it?

I would in your situation see if you can delay committing to taking the job and tendering your resignation until after the completion of the house purchase as I would not want to risk declaring and the offer getting withdrawn or the lender finding out another way and pulling the plug.

Good luck.

Salary difference is +£8000, permanent position but with a 6 month probation period.

What other way could the lender find out? They have confirmed Release of Funds to our solicitors, what else do they do, I dont know?

I wish we had have completed sooner than the 19th now or that I had waited on the job front.

My head is all over the place and will be until we hopefully get the call saying we can get the keys.

rebeccatom

My other half was made redundant when we were in the middle of prchasing our first house. We knew that we would be able to afford the mortgage as we had access to additional savings. so we just held our nerve and hoped they didn't ask any questions before completion. They didn't, and he got a new job pretty quickly so all was well.

It's up to you, I doubt they will ask between now and then but they would want you to tell them. No one else can make the desicion about what to do.

pinkteapot

Can you not just push back the start date of your new job, as someone else on here has suggested?

Are you on a month's notice? If so, complete on 19th March, resign on 20th March, finish on 19th/20th April and start new job after that.

When a company wants you, they're usually happy to wait a few weeks longer than they'd expected. I usually tell them I want a few weeks off between jobs and have never had complaint from the new employer.

You're at the point where the new company wants you but you're not bound to them yet. You can still negotiate with them.

whysoserious13

pinkteapot wrote: »

Can you not just push back the start date of your new job, as someone else on here has suggested?

Are you on a month's notice? If so, complete on 19th March, resign on 20th March, finish on 19th/20th April and start new job after that.

When a company wants you, they're usually happy to wait a few weeks longer than they'd expected. I usually tell them I want a few weeks off between jobs and have never had complaint from the new employer.

You're at the point where the new company wants you but you're not bound to them yet. You can still negotiate with them.

Only a one week notice period.

This is a possible option.

zarf2007

whysoserious13 wrote: »

Salary difference is +£8000, permanent position but with a 6 month probation period.

What other way could the lender find out? They have confirmed Release of Funds to our solicitors, what else do they do, I dont know?

I wish we had have completed sooner than the 19th now or that I had waited on the job front.

My head is all over the place and will be until we hopefully get the call saying we can get the keys.

seriously, keep quiet. You would definitely lose your deposit and other costs and it is not worth it. they will never know.