Change in circumstances (job) after application submitted

kingstreet

That's odd, because when I read it, the question was "Are you obliged to tell your lender if you have a material change of circumstances?"

The answer is yes. Upto and including the point completion takes place. Paying it and being left alone starts there.

It's for the lender to decide if the application still meets affordability.

Blackbeard_of_Perranporth

theone999 wrote: »

don't ask don't tell. as long as you can pay the mortage no one cares.

Brilliant idea that, NOT!

The earlier and more you keep your lender informed, the better you are if you come through difficulties. My lender has been very good since my cardiac arrest in 2012. I’m still in my home!

csgohan4

theone999 wrote: »

The op said his income has reduced. He didn't say he couldn't afford it anymore. I'm saying that the OP knows whether it's affordable for him or not. Unless he says he can't afford it anymore or he thinks it's going to get worse, what's wrong with just paying it to be left alone?

An attitude like that is one reason the economy property crashed with those 125%-150% mortgages on self declared income.


Sure I can afford a 600k mortgage on a 30k income no problem. Not


What a stupid way to go about things, to lie and think you know what's best and get away with it


There's a reason why the Mortgage regulator tightened the rules and things are now based on affordability, not on what 'you think you can afford'.


Buying a house is always more than 'cheaper than rent'. If one thinks likes this, they are not respecting being a house owner.


Do you know the cost of yearly maintenance? no more crying to the LL for a boiler breakdown or leaking roof, because you will be paying


It is not uncommon for the lender to credit check before completion or ask for bank statements for compliance/Audit checks.




Mortgage fraud has long lasting consequences and you will end up having difficulty getting credit if you have CIFAS marker and put on the national hunter database


https://forums.moneysavingexpert.com/discussion/5901936/cifas-national-hunter


Fraud affects the middle class as well as the working class... Bruv

Beetroot24

theone999 wrote: »

i'm what you might call a leftie.



I can think of a few more appropriate words to call you tbh.