Had offer, then told bank about furlough...

RPF1992

Went to full mortgage application with Halifax yesterday. My employer was happy to provide a letter with an estimated return to work date, which Halifax seemed more than happy with. 

If you can get the same from your employer, it might settle the lenders scepticism and could only help you application.

coffeeandbiscuits

lovejellybabies said:

Hi there, I'm wondering if anyone has any words of advice or encouragement! We had a mortgage offer with Nationwide dating back to March. Just recently my husband has been furloughed. We told the bank - which felt like terrible self sabotage but the repurcussions would have been worse if they'd found out! We can still borrow enough on his reduced salary and mine, just - the max they'll lend is £10,000 over what we need. Now we're just waiting to hear if we'll be ok (2 weeks and counting since we told them - they've just asked for a payslip.) Has anyone done similar and do you have any good news to share? This is very stressful! 

Hi, did Nationwide get back to you? 

Our chain fell through so we will need to re-apply, and my husband is still on furlough (and me on maternity). I can't decide whether there's even a point us re-applying, but I'd prefer to try and sell now with the stamp duty cut (and I badly want to move house!) 

lovejellybabies

coffeeandbiscuits said:

Hi, did Nationwide get back to you? 

Our chain fell through so we will need to re-apply, and my husband is still on furlough (and me on maternity). I can't decide whether there's even a point us re-applying, but I'd prefer to try and sell now with the stamp duty cut (and I badly want to move house!) 

Morning! I'm so sorry to hear about your chain falling through. Nationwide did get back to us and re-approved our mortgage on my husband's reduced income and they ignored my mat pay (currently zero!) We had to provide evidence of my return to work date and the salary I'd be on. I advise looking up the exact phrasing they want your work to use in the letter, you can find this on the Nationwide for Intermediaries page - will avoid them sending it back and the delays involved. All in all they were slow, but there were no issues with getting everything approved on my future salary and husband's furlough pay. Best of luck to you!