Checks before completion

[Deleted User]

Hi There,

Just a quick one, do lenders or solicitors or both check employment before completion?

I know my lender is saying something like below:

There is a material change in your personal or financial circumstances

Material change being since I'm on minimum wage, this April the wages have gone up, I did not really notify my lender, so what sort of check they would be doing, if any, before the completion?

Thanks

ACG

They are not going to be bothered if you have had a pay rise.

They might be bothered if you changed jobs and had a pay rise.

They can do things like HMRC checks to see if your income is still in place or credit checks to see if you have missed any payments. Realistically the chances of them doing any checks are slim, but not unheard of.

user1977

That means a materially adverse (from their point of view) change.

Anyway, if they already knew you were on minimum wage, you don't need to tell them that the rate of minimum wage has gone up - they'll know that.