Remortgaging and change of circumstance lie

happybunny10

Hi there,

I have had a mortgage for the last 1 year 3 months. I am thinking of remortgaging and had a mortgage appointment where I lied about knowing a change to my current circumstance. I have recently (30 April) quit my job but told the bank I had no change of circumstance for the future. I have last months pay slip (April pay- most recent pay slip) showing my earnings but I am no longer employed by that company. I can afford the mortgage and have another job lined up but obviously they need proof of recent earnings. I have never missed, nor will i miss any payments and have a good credit score.

Will the mortgage lender contact my old employer to check I work there? Will they find out I have potentially lied on my mortgage application?

Thank you in advance

ScottishSaver14

I'm not sure what sort of advice you're looking for? What you're planning on doing is mortgage fraud...

"Mortgage fraud is a crime in which the intent is to materially misrepresent or omit information on a mortgage loan application in order to obtain a loan or to obtain a larger loan than could have been obtained had the lender or borrower known the truth"


1 year and 3 months is a strange time to be re-mortgaging, why now?

Definitely do not submit a remortgage application with your current plan if hopes hang on them not finding out the truth...

I know that some lenders allow you to remortgage to another deal without them going through a full application, however if this is a new lender I would be very very careful, and frankly not do it at all.

zagubov

You cannot proceed with this.

Even your own lender may investigate if you applied to remortgage with them.

Applying for a new mortgage, like taking out most financial commitments must be done before moving jobs, not after.

You could apply somewhere else (and I'd advise you to be scrupulously honest) but brace ourself for being in the same job at least past its probationary period.

Thrugelmir

happybunny10 wrote: »

I have had a mortgage for the last 1 year 3 months.

What penalties will you will incur from redeeming early?

Have you factored in the costs of switching lender?