Mortgage when moving away from job

ViolaLass

If a couple (one employed, the other works from home) were to want to move to another part of the country (far enough away that the employed person could not commute to their current job), would any lender be prepared to lend to them based on their current incomes?

I ask out of curiosity as someone I know has been told that this could happen and I am sceptical. The working-from-home person does not earn enough to get the mortgage they want on their own.

Thrugelmir

ViolaLass wrote: »

far enough away that the employed person could not commute to their current job

Then it would be fraud to declare this as employment for the applicant.

ViolaLass

Thrugelmir wrote: »

Then it would be fraud to declare this as employment for the applicant.

It would be their employment at the time of application.

Thrugelmir

ViolaLass wrote: »

It would be their employment at the time of application.

I would suggest reading the declaration on the mortgage application form before submitting it to the lender. Nevertheless lender will pick up on the location of the employment and the new property as a basic check. Common sense really. A daft way of putting a question mark over the character of yourselves. Potentially with other lenders as well. As application data is shared through National Hunter.

ViolaLass

Thurgelmir, I'm not arguing with you, it's what I think too but this person says another broker has told them that it can be done. I was hoping that a broker on here might have an opinion on the matter.

Anyone?

Paully232000

I am certain my broker asked, on behalf of the mortgage company something along the lines of, 'do you have any knowledge of any material change in circumstances that could affect the mortgage in the next X amount of time'.

If they cannot commute to their current job, and will therefore have to give it up, then surely the answer to the question is yes i will lose my job and not have that income.

Contemptuous

And, as pointed out above, it's a basic check the lender performs - they'll know where the applicant currently works, and they'll look at the property address, and soon realise it's not commutable. It'll then likely be declined.