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New job after exchange of contracts??
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carissa1810
Posts: 13 Forumite
We have exchanges contracts on a house however as its a new build it is not due to complete until end of august. My question is if I was to get a new job before we complete could this cause the house to fall through? How likely is the bank to now check anything as we have already exchanged?
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There is a risk the bank could withdraw your mortgag offer leaving you to find the money elsewhere.carissa1810 wrote: »We have exchanges contracts on a house however as its a new build it is not due to complete until end of august.
My questions[STRIKE] is[/STRIKE]are
if I was to get a new job before we complete could this cause the house to fall through? No. You have Exchanged contracts and are legally committed to purchase
How likely is the bank to now check anything as we have already exchanged? Likely.0 -
That said, in practice I'm not sure anyone would worry or check providing your income wasn't massively falling.0
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I personally wouldn’t take the risk given how awful the consequences could be, no matter how unlikely. A credit check just before funds are released is common so it seems reasonable to assume a proportion are checked more thoroughly as a matter of course.
Would not telling them be fraud?0
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