Put into consultation for potential redundancy during app

Jon2015uk

Hi all

We have gone though the application process via a broker for mortgage with natwest all been accepted and going through the motions. I come to work yesterday to be told the whole department is under consultation we will expect to know the outcome in the next few weeks. Worst case so lose my job and get redundancy. Best case I get role matched either way it's a stressful time. While I am worried I do think I will be ok.

Do I continue with application and not say anything to the broker and bank on the hope they don't find out? Not sure if references will say anything with this or not or tell them and for it to then be declined.

If I did lose my job my partner can afford payments until I get another role. But I do understand the uncertainly and risk involved however I will have above average payment at the same time if the worse was to happen. Just don't want to pull out at this stage ! Advice would be useful. Sorry for the waffle

Thrugelmir

Material facts should be disclosed. As it's fraud not to tell the truth. Why would any lender trust you again in the future? That's the consequence of being deceptive.

missis_amber

How desperate are you to move/buy a house? If you aren't I personally would wait. It's not just the mortgage payments it's everything else that you are financially committed to.

Malmo

OP, have you searched the forums for similar questions/scenarios?

See this thread.

You need to disclose any material & potential changes to your circumstances that you are aware of, otherwise it is mortgage fraud.

Jon2015uk

I thought so I will be honest and tell them I just wanted to make sure that was really the right thing to do