Exchanged contract - Furlough help

sparkletoes4

Hi all, 
We exchanged contracts just before everything started to go in to lockdown, workers are back on the building site and I'm expecting it to be complete within the next couple of months. We have both been out on furlough during lockdown and up untill now our employers have been topping our wage up 100%. We are now going to be on 80%. We haven't told the lenders as we really don't want our mortgage to fall through when we are so close. I also have an interview tomorrow for a new job (pays the same and is a company I have worked for before). I guess I am already at risk because I am furloughed so I don't know wether i should take the job (if offered) as I am already at risk and surely having a new job is better than being furloughed? I don't know what to do, HELP

jamielutz1987

Sorry to hear about your situation, it is indeed a tricky one.
I guess the main questions are -
- do you meet affordability on your furlough pay?
- what's the likelihood of furlough turning into redundancy
- what LTV is the mortgage at? The high LTV market has shrunk significantly since covid

csgohan4

lenders have been requesting payslips and other documents before completion to ensure they are not impacted by the current situation. Best they find out from you, than when they find out

Not all lenders are comfortable with new jobs as inevitably they will have some degree of probation as well, it really is lender's discretion