Help made redundant days before exchange

Em0208

So he has now said that HR are going to put on the top of his file that he is employed until June if there is a last minute phone call to check employment status. I still think this is risky, am I over reacting? He still believes that until we can't afford the mortgage we don't have to disclose

3mph

With respect given this situation you really should not "think" but should "know" so you need to go through the wording of the application and be able to justify what ever you do . It is far too dangerous to guess.

AnotherJoe

Em0208 wrote: »

So he has now said that HR are going to put on the top of his file that he is employed until June if there is a last minute phone call to check employment status. I still think this is risky, am I over reacting? He still believes that until we can't afford the mortgage we don't have to disclose

I'm gobsmacked how risky your husbands behaviour is. Seems to be little,logic there, im getting the impression it's a macho thing.is he like this at work ?

Just how good is this house ? What if it needs to be sold anyway because your husbands next job, if he gets one, is too far to commut? What if his new job is ata much lower salary ? Has he considered the pressure he'll be under to take a rubbish job just to keep head above water should it take a while to get one ?

All this is not even considering the nuclear option of the lender withdrawing their mortgage offer Because he won't get another if rumbled.

Crashy_Time

http://www.reuters.com/article/us-usa-fed-yellen-idUSKBN16A26C


Pull out and stay where you are, pay down mortgage debt if you have any first.

kilby_007

Is it risky that you're contemplating telling fibs to the mortgage company? Yes. Is it risky that your husband might have no income for 6 months, you default on the mortgage, the house is reposessed, sold at a loss and you end up losing your house and life savings? Very. I'd be more worried about the latter.

Crashy_Time

Too risky, don`t do it.

BrassicWoman

I'd take your name off the new mortgage and house and let husband do as he wishes; no point you both being marked down for fraud. Then at least one of you will be able to buy somewhere in the future.

zagubov

Em0208 wrote: »

The mortgage repayments would be more as we are upsizing, it's difficult to say how long it would take to get a job,

This says it all: you've answered your own question perfectly. There's no argument whatsoever for you continuing with this purchase.

hazyjo

Sounds like you had your answer before you even started the thread lol.

Em0208

Hi all thanks for all your replies, thought I would update you and to see if I could pick your brains again. So after much debating we finally decided to pull out of our sale and purchase even though our broker said we should carry on as they would never know! We decided it wasn't worth the massive risk, so reluctantly we walked away. That was 2 weeks ago since then we have been having a think and wonder if there may be a way of salvaging this. The plan is to carry on with our sale, that plus the redundancy money would give us a bigger pot so we have put a proposal to them to rent the house until we can buy it. The EA has said the rental is 2k a month but we feel that there could be a concession as currently the house is empty and has been since December, it might take them 6 months to sell again. If they go with us they have guaranteed advanced 12 months rental and a ready made buyer after that maybe before if OH can secure another job quicker than that. It seems like it could be a win for everyone if the price is right 2k is too much, so I'm wondering what you think are we being cheeky to ask for a discount bearing all that in mind?