Mortgage & Job Loss - what are our options?

cats2012

Smodlet wrote: »

I didn't want to get into that, Pixie. If "gift" does not mean gift, they need to pull out now.

Apologies again - yes it would be a gift, only ever to be repaid if something massive changed otherwise it would be balanced out of my inheritance however many years down the line.

ProDave

Even if he wins the appeal, does he really want to carry on working where his face does not fit? Start looking for another job.

hazyjo

cats2012 wrote: »

Apologies again - yes it would be a gift, only ever to be repaid if something massive changed otherwise it would be balanced out of my inheritance however many years down the line.

What do you mean if something massive changed... it's either a gift or it's not. Can't be any what ifs attached. Re the inheritance, not sure what you're saying re that either.

Smodlet

cats2012 wrote: »

Apologies again - yes it would be a gift, only ever to be repaid if something massive changed otherwise it would be balanced out of my inheritance however many years down the line.

So not really a gift then, more of a long term loan?

So not judging, cats2012 but, if your partner has done something daft when he knew you were in the mortgage-acquiring process, just how a good a risk is he likely to be viewed as by lenders? Or prospective employers? Of course we all make mistakes but his timing leaves something to be desired, does it not?

iammumtoone

hazyjo wrote: »

What do you mean if something massive changed... it's either a gift or it's not. Can't be any what ifs attached. Re the inheritance, not sure what you're saying re that either.

I understood it perfectly. Its a gift and ops inheritance will be now less than their siblings as they have already been gifted some money whereas the other have not.


If at anytime in the future op parents find themselves struggling for money then the op will do all they can to help them in return, its what families do. It doesn't meant that the parents will be demanding their 'gift' back just that the op will help if able.

iammumtoone

Smodlet wrote: »

So not judging, cats2012 but, if your partner has done something daft when he knew you were in the mortgage-acquiring process, just how a good a risk is he likely to be viewed as by lenders? Or prospective employers? Of course we all make mistakes but his timing leaves something to be desired, does it not?

thats a bit unfair, you only have to read over on the employment board to see that these things can come to light months after the event has taken place. We do not know when the OPs partner messed up. Of course it it was recently you are right.

Smodlet

iammumtoone wrote: »

thats a bit unfair, you only have to read over on the employment board to see that these things can come to light months after the event has taken place. We do not know when the OPs partner messed up. Of course it it was recently you are right.

I kind of assumed (I know) that its being recent was a reasonable assumption otherwise why is it still an issue? I know things can take forever... Also, a whole lot of the assumptions in my post were hypothetical; what would a mortgage lender think?

hazyjo

iammumtoone wrote: »

I understood it perfectly. Its a gift and ops inheritance will be now less than their siblings as they have already been gifted some money whereas the other have not.


If at anytime in the future op parents find themselves struggling for money then the op will do all they can to help them in return, its what families do. It doesn't meant that the parents will be demanding their 'gift' back just that the op will help if able.

Fair dos. OP might want to change the terminology then with their lender Forget the future, forget the what ifs, they just say it's a gift, end of (to their lender, not me saying end of to you lol!).

Artica

Hello

We were in the same situation in 2011. We made an offer on the house and everything was going our way.
Suddenly husband's company (not his but you know what I mean) were into administration.
I remember meeting the mortgage adviser the day after asking him to stop everything... We were devastated. My husband got a call from the surveyor the day after being made redundant asking if it was ok to call the estate agent to organise the survey. We asked them to stop everything.
We knew some people and were lucky enough to have a job offer on the table within 48 hours.
I spoke to the bank and they agreed that if my husband had a letter from his new employer saying that they were hiring him without probation they would push ahead with the mortgage.
this is was we did.

I know we were lucky in this situation as my husband found a job without probation in a couple of days but perhaps your husband know some people who could help with a job?

Good luck with it all