Mortgage circumstance change - months? Penalties?

jibbyboo

Recently got accepted to university, but wondering if I were to defer for a year or soonest start the year at the March intake (therefore continuing to receive my low, but full-time income and be able to afford my repayments), would it be considered that my circumstances were going to change if I were to get a mortgage product? As from memory, they will ask whether my circumstances are likely to change in the next 6 months?  

What do mortgage companies do to check this or is it just the details that I provide which are taken into account? Could I be penalised/ taken to court/ ejected from uni etc even if I were to be able to afford my repayments but just didn't have the same income as before? 

Thank you very much for your help 🙏

jamielutz1987

Once you complete on the mortgage, you can pretty much do whatever you want with regard to your employment situation, as long as you can make monthly repayments and  don't need to remortgage to another lender. The lender will not do any affordability/credit checks whatsoever post completion.

MovingForwards

You are asked if you know there will be a change in your circumstances, you know you will be attending uni after getting your mortgage, therefore obtaining a mortgage then attending uni would be application fraud.

If you got your mortgage, then decided to attend uni, it wouldn't be.