I changed jobs before completion. Is my solicitor Job to check this?

JJRome

I'm very close to exchange and completion, but I recently changed jobs. salary is a bit higher and there is not probation period so is pretty much the same story as before.
I understand some lenders may get nasty with this and they may ask at the very last minute for payslips. 
But my question is: Is my solicitor Job double check this?  is his job to ask for my current pay slips even if the bank already approved the mortgage? Does he have a duty to inform the bank that I have changed jobs? or just verify the source of money is legit and not from money laundering and stuff like that.

UPDATE:
I called my broker and told him about my change of Job. He asked me a few questions and said Leave it no need to inform the Bank. Should I be OK them?

MattMattMattUK

You have a duty to inform the bank, your broker if you are using one has a duty to inform the bank if they are made aware and the solicitor has a duty to inform the bank if they are made aware or they discover it from banks statements, payslips etc. The bank could ask for up to date statements and pay slips, your solicitor may ask for these to cover themselves for anti-money laundering purposes or no further checks could be conducted. If you fail to notify the bank then your application could be deemed fraudulent and you could find yourself with a CIFAS fraud marker and be unable to get a mortgage for a decade or more. 

JJRome

MattMattMattUK said:

You have a duty to inform the bank, your broker if you are using one has a duty to inform the bank if they are made aware and the solicitor has a duty to inform the bank if they are made aware or they discover it from banks statements, payslips etc. The bank could ask or up to date statements and pay slips, your solicitor may ask for these to cover themselves for anti-money laundering purposes or no further checks could be conducted. If you fail to notify the bank then your application could be deemed fraudulent and you could find yourself with a CIFAS fraud marker and be unable to get a mortgage for a decade or more. 

WOW You are really  overreacting.  I'm not doing anything wrong and  not committing any kind of fraud.  I just simple changed jobs which is totally normal and is a BTW is very secure one. that some lenders may not like it and considered a nit risky is a different story.

Voyager2002

JJRome said:

WOW You are really  overreacting.  I'm not doing anything wrong and  not committing any kind of fraud.  I just simple changed jobs which is totally normal and is a BTW is very secure one. that some lenders may not like it and considered a nit risky is a different story.

The post simply stated what the law says and the possible consequences of your actions. So now you know what might happen, it is up to you to decide whether or not to take that risk.

MattMattMattUK

JJRome said:

WOW You are really  overreacting.  I'm not doing anything wrong and  not committing any kind of fraud. 

I am laying out the situation, I am not over-reacting or under-reacting, just being factual. Failure to notify the lender of a change in circumstances during the process can be deemed fraud, you will have signed a declaration as part of the application process which detailed that, change in employment status usually being number one on that list and requiring you to notify them immediately. If you fail to notify them you are doing something wrong and it is highly likely you would be committing mortgage application fraud. 

JJRome said:
I just simple changed jobs which is totally normal and is a BTW is very secure one. that some lenders may not like it and considered a nit risky is a different story.

It does not matter if you think the job is risky or "very secure", changing jobs, whilst normal, is also a change in circumstances and with employment status (salary, time of service, source of funds etc.) being key to a mortgage application is part of how lenders evaluate their risk and willingness to lend. If is not up to you to deem it irrelevant, you are not the one lending the money.

JJRome

Voyager2002 said:

JJRome said:

WOW You are really  overreacting.  I'm not doing anything wrong and  not committing any kind of fraud.  I just simple changed jobs which is totally normal and is a BTW is very secure one. that some lenders may not like it and considered a nit risky is a different story.

The post simply stated what the law says and the possible consequences of your actions. So now you know what might happen, it is up to you to decide whether or not to take that risk.

as I understand some lenders (like Santander are totally fine with this as long as is the same line of work and not probational period required).

I'm just evaluating possible scenarios. The way I see it is: if my solicitor request pay slips I will send  them. If there is any concern he will consult with the Lender and at that point is the Lender decision to say yes or no.  

My Mortgage offer says:

"We may withdraw or change our offer if at any time any of the following happens:
Your circumstances have significantly changed since you applied, for example you have

become unemployed."
From my view changing jobs is not like been unemployed I have a job with a very similar salary and not probational period. 

HummingBird76

So basically you have come on here, asked for advice, been given a very good, concise answer, criticised that answer because you didn't like it, and now pretty much saying you'll do as you like anyway....

dunstonh

But my question is: Is my solicitor Job double check this?

No.

 is his job to ask for my current pay slips even if the bank already approved the mortgage?

No.

Does he have a duty to inform the bank that I have changed jobs?

No.  Indeed, he wouldn't know.

 or just verify the source of money is legit and not from money laundering and stuff like that

The solicitor does the conveyancing.   They also have to handle the transfer of funds and they will independently make anti-money laundering checks.   

You are meant to make the lender aware of potential changes like this prior to completion.  In reality, hardly anyone does. However, it doesn't make matt's post an overreaction as he is quite correct on the potential consequences as a worst case scenario.

[Deleted User]

Ive just bought a BTL. Before exchange I had to complete a form and sender it back to the solicitor confirming no material changes to finances. I didnt read the exact wording as I had zero changes but they do ask as they represent the lender too 

Grumpy_chap

How do you think your conveyancing solicitor would know that you had changed jobs before you knew?

csgohan4

JJRome said:

Voyager2002 said:

JJRome said:

WOW You are really  overreacting.  I'm not doing anything wrong and  not committing any kind of fraud.  I just simple changed jobs which is totally normal and is a BTW is very secure one. that some lenders may not like it and considered a nit risky is a different story.

The post simply stated what the law says and the possible consequences of your actions. So now you know what might happen, it is up to you to decide whether or not to take that risk.

as I understand some lenders (like Santander are totally fine with this as long as is the same line of work and not probational period required).
What you think and what the underwriters think is reasonable will likely be different, unless you work for the lender as an underwriter

I'm just evaluating possible scenarios. The way I see it is: if my solicitor request pay slips I will send  them. If there is any concern he will consult with the Lender and at that point is the Lender decision to say yes or no.  

Evaluating scenarios for getting a CIFAS? Why not tell the lender as you quoted a change in circumstance has occurred and it is significant, it's a job change. Your lender underwritten you based on your previous job and salary, irrespective of how high your current job is. 

My Mortgage offer says:

"We may withdraw or change our offer if at any time any of the following happens:
Your circumstances have significantly changed since you applied, for example you have

become unemployed."
From my view changing jobs is not like been unemployed I have a job with a very similar salary and not probational period. 

OP while you may get lucky and the lender may not ask for further checks, going about regulated financial business on a hit and hope basis, you will eventually be found out and your next post on here will be about getting a CIFAS marker and how to remove it. 

https://forums.moneysavingexpert.com/discussion/6149211/cifas-mortgage-marker