Handing in notice before Mortgage completion..

Niv

Have a read, it refers to changing jobs but the principle is the same.

https://www.money.co.uk/mortgages/will-changing-jobs-stop-you-getting-a-mortgage.htm

user1977

If the plan was always for you to quit your job, why was your salary included in the first place? 

LLL144

user1977 said:

If the plan was always for you to quit your job, why was your salary included in the first place? 

Well not always. I was hoping to not have to do IVF but now it is necessary.
My wage also helped us secure the mortgage we wanted as my husband's over time wasn't taken into account..  

lookstraightahead

user1977 said:

If the plan was always for you to quit your job, why was your salary included in the first place? 

To be fair there are lots of people who don't expect to stay in their jobs for the entirety of a mortgage. Some have every intention to change their lifestyles.

However, I agree that in this case it could easily be seen as fraudulent,

op, it's a huge risk. It matters not one iota whether you can afford the mortgage on one salary (many people can yet can't get mortgages as they are self employed etc).

Getting a mortgage offer means very little until completion.

propertyhunter

Like everyone has said, unfortunately you have to wait until after completion. 

Just wanted to say good luck with the IVF. 

TBagpuss

AS others have said, while it depends on the exact terms of your mortgage offer, most have a requirement that you tell the lender if you became aware of any significant change in your circumstances, so handing in your notice, whether or not you were still actually working at the time the mortgage was drawn down, would be something you would need to tell them about. 

On a practical level - are you sure that you will still be able to afford the mortgage payments if you stop work ? Presumably your husband's overtime isn't guaranteed - could you still afford it if his overtime stopped or reduced?
Also, starting IVF while you are dealing with something as stressful as moving house might not be ideal - you may have far better chances of success if you are under less stress, although of course that's a question for you to have with your doctor, but as , as I understand it, IVF is limited on the NHS and expensive privately, you might want to make sure that you aren't limiting your own chances of success

Thrugelmir

LLL144 said:

Would appreciate your thoughts on this    

What's affordability like on one salary?  

On your mortgage application form you agreed to inform the lender of any material changes. Financial relationships are built on trust. Every day something goes wrong for somebody. That's when the proverbial hits the fan. No business likes a customer who sets out to deceive. Hence why all finance institutions share the National Hunter resource. Customers can be blacklisted.

https://www.nhunter.co.uk/

To quote the famous Clint Eastwood line from Dirty Harry. " ‘You've got to ask yourself one question. Do I feel lucky? Well, do ya, punk?’" 

LLL144

propertyhunter said:

Like everyone has said, unfortunately you have to wait until after completion. 

Just wanted to say good luck with the IVF. 

Thank you very much

babyblade41

Just to put my two penneth , I think it is quite likely you could be caught out certainly before completion as it is fraudulent and then you would be hard pressed to get a mortgage anywhere 

I'm not sure why you can't stay in your current job whilst going through IVF then you will get maternity leave and could go back to work , I'm not sure leaving and losing an income for how ever long seems a bit odd

LLL144

TBagpuss said:

AS others have said, while it depends on the exact terms of your mortgage offer, most have a requirement that you tell the lender if you became aware of any significant change in your circumstances, so handing in your notice, whether or not you were still actually working at the time the mortgage was drawn down, would be something you would need to tell them about. 

On a practical level - are you sure that you will still be able to afford the mortgage payments if you stop work ? Presumably your husband's overtime isn't guaranteed - could you still afford it if his overtime stopped or reduced?
Also, starting IVF while you are dealing with something as stressful as moving house might not be ideal - you may have far better chances of success if you are under less stress, although of course that's a question for you to have with your doctor, but as , as I understand it, IVF is limited on the NHS and expensive privately, you might want to make sure that you aren't limiting your own chances of success

Yes we are sure we can afford the repayments. His over time is very well paid and pretty much guaranteed. Even on his basic salary we would make the repayments. I'm planning on starting a little business from home too..
Yes it has been stressful that's why I'm waiting to start the process until we have moved in. The most stressful part is definitely now! I also have a long commute and am always exhausted from my job so another reason to quit and give IVF the best chance. Just in limbo waiting at the moment!