We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Employment status changed due to Covid-19 after mortgage deed received
hero87
Posts: 1 Newbie
In a bit of quandry....we've had our mortgage offer and deed through to proceed with our house purchase, however yesterday I was hit with the bombshell that my company is going into a CVA situation and that everyone working for the company was redundant as of 5.30pm yesterday. However, the MD is trying to see if she can do the 'furlough' scheme to put us all onto the 80% scheme to reverse the redundancy. My question is whether you think I will still be able to secure my mortgage if I'm on the furlough scheme given I don't know if/when the company will then start trading again, or whether either way (redundancy/furlough) it's unlikely the offer will still go through.
Financially we can afford the new mortgage on just my partners salary until I find a new job, however we can't apply for it in just his name as they wouldn't lend us the full amount required.
Is there any other way to secure a mortgage - for example proving levels of savings or having a guarantor? I've asked to speak to my mortgage advisor but they won't be available until next week and obviously am really worried about the status of our house move and don't want to string the other people in the chain along if it will fall through.
Any advice welcomed!
Financially we can afford the new mortgage on just my partners salary until I find a new job, however we can't apply for it in just his name as they wouldn't lend us the full amount required.
Is there any other way to secure a mortgage - for example proving levels of savings or having a guarantor? I've asked to speak to my mortgage advisor but they won't be available until next week and obviously am really worried about the status of our house move and don't want to string the other people in the chain along if it will fall through.
Any advice welcomed!
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards