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Handing in notice before Mortgage completion..

LLL144
Posts: 10 Forumite

Hello!
Me and my husband have just had our official mortgage offer and are looking to complete for our house in January.
The mortgage offer is based on both of our full time salaries, but the plan has been for me to quit my job and focus on having IVF as soon as possible.
Now we have secured the deal I was hoping to hand my notice in after exchange in the next few weeks.
I am desperate to start the process of IVF as you can imagine but am now worrying if I give my notice in too soon will it jeopardise the mortgage? Will they even know? I will have to work a months notice.. Would appreciate your thoughts on this
Me and my husband have just had our official mortgage offer and are looking to complete for our house in January.
The mortgage offer is based on both of our full time salaries, but the plan has been for me to quit my job and focus on having IVF as soon as possible.
Now we have secured the deal I was hoping to hand my notice in after exchange in the next few weeks.
I am desperate to start the process of IVF as you can imagine but am now worrying if I give my notice in too soon will it jeopardise the mortgage? Will they even know? I will have to work a months notice.. Would appreciate your thoughts on this

0
Comments
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My understanding is that if you resigned from your job before exchange then you must notify your mortgage provider. Once you've exchanged and the house is legally yours, you can resign and they don't need to know.1
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owenjt said:My understanding is that if you resigned from your job before exchange then you must notify your mortgage provider. Once you've exchanged and the house is legally yours, you can resign and they don't need to know.4
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owenjt said:My understanding is that if you resigned from your job before exchange then you must notify your mortgage provider. Once you've exchanged and the house is legally yours, you can resign and they don't need to know.
Understand should read completed3 -
If the bank are lending based on your salary then surely you'd need to inform them of your intentions to resign.0
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You have an Agreement in Principle. That is different to a full mortgage being released at completion. The AIP provided was under the belief that there will be two incomes at the time of completion. It's up to you whether you think anyone will find out but to leave your job before the mortgage commences would make your mortgage claim fraudulent.
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andy444 said:You have an Agreement in Principle. That is different to a full mortgage being released at completion. The AIP provided was under the belief that there will be two incomes at the time of completion. It's up to you whether you think anyone will find out but to leave your job before the mortgage commences would make your mortgage claim fraudulent.
You've also not secured a deal, and also what if this current buy falls through?
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andy444 said:You have an Agreement in Principle. That is different to a full mortgage being released at completion. The AIP provided was under the belief that there will be two incomes at the time of completion. It's up to you whether you think anyone will find out but to leave your job before the mortgage commences would make your mortgage claim fraudulent.
Do I need to inform the lender after completion about my change of circumstances although we will have no problem making the repayments?0 -
After completion no. Wait until then.Debt free Feb 2021 🎉2
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I believe you are obliged to inform the mortgage company on any change of circumstance before completion (after completion would depend on the T&Cs). Working your notice is a change of circumstance.YNWA
Target: Mortgage free by 58.5
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