Looming redundancy- when to inform mortgage company

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Looking for any advice on informing our mortgage provider of my looking redundancy status.
Is there a ' best time' to do this - i.e on first notification or 1st day of unemployment etc..?

Thanks for any advice 
:j

Comments

  • la531983
    la531983 Posts: 1,908 Forumite
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    If you are still planning to make the minimum payment, why would you need to even mention it at this point?

    If not, you really should be doing it as soon as possible.
  • Throwaway1
    Throwaway1 Posts: 527 Forumite
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    You don’t need to mention it at all unless you are currently remortgaging your property. Unless you mean that you think you won’t be able to afford the payments anymore in which case asap.
    MFW - OP 10% each year to clear mortgage in 10 years!
    2019: £16,125/£16,125
    2020: £14,172.64/£14,172.64
    2021: £12,333.62/£12,333.62
    2022: £10,626.55/£10,626.55
    2023: switched tactics to saving in a higher interest rate account than mortgage interest rate
    2024: mortgage neutral!
  • Brie
    Brie Posts: 10,316 Forumite
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    Been through redundancy a number of times in since first owning a home and it never occurred to me that I needed to inform the mortgage company.  Then again I always assumed I could afford to pay (which I have).
    "Never retract, never explain, never apologise; get things done and let them howl.”
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