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Mortgage offer withdrawn due to over 1 hour commute time
MrsD2006
Posts: 2 Newbie
We were offered a mortgage on a property and said up front that I would eventually look for a job nearer the property (currently live and work in Essex, property is in Peterborough). Broker said this would not be a problem. then the lender said that because the commute from new property to existing job was to far, approx 1hr 20mins, I needed to get a new job nearer the property first, but I would then have to be in that position for around 3 months. Is this something new? Has anybody else been in this situation? Feel we are in limbo as not sure how we move on from here.
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Comments
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Its one of those things which can be a problem, some lenders will be fine.
Your broker should be able to find an alternative lender.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
How many miles and what journey duration with car? How long with public transport?MrsD2006 said:We were offered a mortgage on a property and said up front that I would eventually look for a job nearer the property (currently live and work in Essex, property is in Peterborough). Broker said this would not be a problem. then the lender said that because the commute from new property to existing job was to far, approx 1hr 20mins, I needed to get a new job nearer the property first, but I would then have to be in that position for around 3 months. Is this something new? Has anybody else been in this situation? Feel we are in limbo as not sure how we move on from here.0 -
Rent in the new area first. While seeking new employment. Many people have had to tread a similar path over the years.MrsD2006 said:Feel we are in limbo as not sure how we move on from here.0 -
@mrsd2006 A 1hr20min commute shouldn't necessarily scupper the case (though how the underwriter sees it will also depend on the details - what kind of job, salary, etc.).MrsD2006 said:We were offered a mortgage on a property and said up front that I would eventually look for a job nearer the property (currently live and work in Essex, property is in Peterborough). Broker said this would not be a problem. then the lender said that because the commute from new property to existing job was to far, approx 1hr 20mins, I needed to get a new job nearer the property first, but I would then have to be in that position for around 3 months. Is this something new? Has anybody else been in this situation? Feel we are in limbo as not sure how we move on from here.
Your broker should be able to place you with an alternate lender.I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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