Mortgage lender need to contact my employers

putitinmytil

Urgent Help Needed please

I am a first time buyer and have an accepted mortgage offer from a lender on a property and the survey has also been completed. The solicitors are currently in the process of searches on the property.

My questions is will the lender need to contact my employers between now and the exchange/completion of contracts?

I am asking this question as I am going to be offered redundancy and am wondering if I should take it?

I really don’t want to carry on working for the company for various reasons that have made my position unbearable.

Myself and my partner will be able to affored the mortgage repayments for a temporary period if needs be. I am confident that I would be able to find other work

After searching for numerous houses we really love the house in question.

Thank you for your help.

elvis_girl

It depends on who the provider is. Some do some don't. I have never had anyone phone up my work though it asks on the application form if they can.

Dazi

Hiya
You have obviously provided proof of income, but sometimes they may need to contact employers, if for instance your proof of income includes overtime or bonuses that vary, or in some cases it might just be that the wage slips you provided are not clear enough for the assessor to read (if for instance the person assessing your application is using a scanned on image) and rather than contact you to provide your wage slips again will ring your employers and ask if they can send a refererence, this is usually a set format, asking your wage, how long you have worked there etc. The one we send out doesnt ask about redundancy, but does ask if the employer considers your employment as permanent.

Obviously I do not know what your lender will ask for, just giving you an example.

Hope everything goes ok for you both re the mortgage.

As for should you take the redundancy if offered as you dont want to carry on working there........well you spend most of your life working, so should be able to enjoy what you are doing. Well I'm a fine one to talk as I do not like my job either, I have set my self a target to find a new job by my next birthday (March).

Like you I am confident I should find something else, if not, there is always agency work, not the best paid I know, but I did it for 2 years and really enjoyed it. So if your workplace gets too much and you decide to take redundancy, sign on at every agency you can find till you find a permanent job.

Dazi xxxx