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Question for a mortgage broker
Nikochan
Posts: 2 Newbie
Hi peeps.I'd really appreciate an answer from someone in the know. I'm in the process of buying a place (haven't exchanged yet) but have just lost my job. I urgently need to discuss the situation with my mortgage broker, but was wondering if he has an obligation to notify the mortgage lender, or it stays between us? Thanks.
0
Comments
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Assuming this is not a troll post
anything other than letting your lender know is called mortgage fraud.
They can and will do employment checks, if you get caught out, good luck getting a mortgage for a long long time.
There is a black list. http://www.nhunter.co.uk/
Your broker is wise to not break the rules either as they are FCS regulated, at least assumed.
Do you think you can afford the mortgage repayments and moving costs e.t.c for the next few months? irrelevant tbh, any material change must be informed to the lender"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Sorry, but I would inform lender.
Neither your case nor anyone else's is worth my career. You can read on Cherry the stories of brokers who have been removed from lender panels and suspended from networks for a sniff of wrongdoing on the part of the applicant they may not even have been aware of.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Mortgage brokers are really just the same as priests.
Anything you tell them is covered by the 'Confidentiality of the Confessional Act 1632' as amended by the 'House Buyers Advisers & Comforters Act 1966.0
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