Partner lost job, walked in to another.... So do I need to tell mortgage lender

Kynthia

moneyistooshorttomention wrote: »

Not that big a deal I'd guess if, by some remote chance, they found out - just a question of establishing which other firm would be providing the mortgage instead. There must be plenty of people that find the whole housebuying process is taking them so long (courtesy of delay in finding the house they want and/or delays by the vendor even after they've found the house) - and they go on to find their mortgage offer has expired and they have to find someone else to give them the mortgage instead.

I can't imagine that would be a big deal in the remote possibility of that happening - unless the mortgage company concerned have agreed to lend a lot more than others would (eg they've got a special deal on the back of the last job they had - as I did back when I bought my starter house). But if there is no specific job-connected special deal then <shrugs>

It's an extremely big deal if it happens between exchange and completion as I explained. That's why the OP should say beforehand as the worst that could happen then is applying for a new mortgage with someone else and delaying things a few weeks, which might not even happen as thry could be still happy to proceed.

densol_2

We dont know if exchange has already happened as OP hasnt come back to answer the question. As its a new house they may have already exchanged and the risk to tell is far greater than the risk to keep quiet. If no exchange then of course lender should be advised