Change of Job after Mortgage Offer

Jenson1992

My husband and I are first time buyers and have recently applied for a mortgage and have been made an offer by Coventry Building Society which came through about a week ago. We have not yet signed this offer. My husband has out of the blue been offered a new job and wants to take it but we are contemplating how this would affect our Mortgage offer if he did. The job is actually a bit more money in a similar position in a new company but within the same industry. It is a permanent full time position with a 3 month probation period. He has a 3 month notice period for his current job, but my question is, now that we have the mortgage offer, if we were to accept it, do mortgage providers carry out further employment checks when we get nearer to completion? My worry is that if we don't tell them of his job changing before completion then technically it is mortgage fraud since we have that condition in the offer that if the circumstances change, they need to be informed. I'm reasonably confident from reading around that Coventry would retract their offer in this case as they don't like to lend to people who have not been in employment for < 12 months. My husband has been in work for a long time and there are no gaps in his employment history however I guess this does not matter from a lenders perspective. If anyone can give me some advice or their view I would appreciate it. We've found the dream home and I don't want to jeopardize it, but on the other hand, I don't want to commit mortgage fraud.



--Jen--

Broadyx

If you have received a mortgage offer then the mortgage company is satisfied you have both passed their checks, so if you don't tell them, there is no reason for them to know. You should really inform them but there's no reason they should find out if you don't.

That being said, do you really want to be taking out a mortgage when your husband is in a probationary period - what if he doesn't pass it? Job security is massively reduced during that period, and if the mortgage company did find out before the funds were released that would be their biggest issue rather than the salary.

Jenson1992

Thanks for the feedback. My husband wants the job so we are doing things by the book and informing the mortgage provider about the change in our circumstances. There is too much at risk to take a chance on this.



Thanks,
--Jen--

Mortgage_Adviser

What your broker is saying?

kingstreet

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