Buying a house and changing jobs

Rambosmum

Currently buying a house, hoping to exchange next Friday then 3 weeks until completion.


Got offered a new job, when can I hand my notice in? After exchange or should I wait until completion? I have a 3 month notice period so keen to get it done asap and don't want to jeopardise the job offer but also don't want to jeopardise the purchase!


Buying with a mortgage.

betsycat

Unfortunately I have no answers, but I'm in a similar situation... to be safe I would say completion, though I'm not sure of the likelihood of the lender asking for confirmation of your current job between exchange and completion! It's probably pretty low, but if you can hold out until completion, I'd say do that as it's one less thing to worry about. Nerve-wracking though I know!

Fosterdog

I've known two people this has happened to in the last two years, the one just had to send proof of the new contract which also happened to be on a higher wage, it delayed things by a week or two but all went through fine.

The other was taking a pay cut (full time to part time but higher per hour wage) they chose not to tell anyone, the new job started just before exchange but only by a few days so all checks had already been done. They could probably get in trouble if found out but it was a risk they were willing to take. By the time the two year deal ends in six months they will have two years in the new job so shouldn't be a problem when looking at new deals. Also helps that his OH earns twice what he does and the mortgage would be affordable with just one of their wages let alone both.

davidmcn

Handing your notice in is a material change of circumstances which you'd need to disclose to your lender. But you can do what you like after completion.