Job lost during mortgage application, HELP!

pickles_pink

Hello guys,

Sorry to disturb you once again!

If you have seen any of my other threads you will know how much I want to move! Firslty my DH and I bought a new build flat that we later found did not compy with planning permission or building regulations. After a long hard slogg we have finally found out that we can sell and move on.

Then (being with Northern Rock) we had a bit of a to-do with them trying to port, any way again after a bit of a slogg we have the DIP approved.

So we put our place on the market last week (no interest as yet but we are happy to be patient) and had an offer accepted on a beautiful victorian terraced (although they wont take it off the market until we are proceedable) again we are happy with this - fairs fair.

Yesterday it all came crashing down again as my husband was made redundant. :eek:

He has a trade and so should be okay to get something fairly quickly, but my worry is how will we stand with Nrock now. If he can match the income will we still be okay for the mortgage?

Please help any advice would be greatfully received.

(re-posted as was advised this board was more suited - Thank you pastures)

HelpWhereIcan

The current situation may well mean that they look at your individual case more closely than they would have done in the past and therefore no guarantees but:

Northern Rock's policy is that you do not need to have been in your current position for any minimum period. Therefore as soon as your OH is back in work your application will be able to proceed.

However, the underwriter will want to write to the new employer to confirm:

1. The job is permanent
2. There is no probationary period
3. His income

So depending on his new job, you should be able to pick up where you left off