Mortgage offer and changing job before completion - Advice please?

[veeg33]

Was supposed to moved into our new house before last year's Xmas but unfortunately due to various build issue and delay from national grid connecting our new house, We are still renting at the moment and considered ourselves lucky that we are not on the chain.

 

Having said that, a recruiter just rang me today and there might be a job suitable for me. I'm an Engineer (for the past 9 years) but currently on secondment within same company as a Asst Project Manager. I'll most likely move back to engineering once secondment ended in July this year. I'm really keen to stay in project management hence I'm interested with to explore further. He's got a role perfect for me and it's something I would like to do rather than going back into engineering and wait for other opportunity within my current company.

 

The big question:

I've got a mortgage offer now, just waiting for completion hopefully by July 2016. If I'm successful, i might start before completion hence I need to inform my lender. Since this is a new job, I'll be on 3 months probation. Will my lender see this as high risk and retract the mortgage offer?

 

Any mortgage adviser here in the forum or any fellow forum member in this boat before?

 

Thanks guys

[Ekona]

I'm not convinced I'd bother telling them, tbh. You have your offer, you know the risk if the job goes belly-up, it's pretty much on your shoulders right now.

[veeg33]

My gut feeling is to go for it and see what happens. Worry about it later when it comes. Just wanted to make sure I will still get the mortgage for the house.

[Ekona]

You have the offer, so unless you tell them how are they going to know?

 

As long as you were truthful when applying then that's about as far as it goes I suspect, certainly I don't recall any wording that requires you to tell them if you plan on changing jobs. Put it this way: What difference practically is there if you changed now or the day after you move in? Still a huge risk either way, but this early on the risk is very much with you not the mortgage company.

[gsexr]

I`m with Ekona on this one, you have the offer so no probs

[veeg33]

Cheers guys, will see how far I get with this opportunity.

[Luke0549]

the only issue I see - and this happened to me;

 

check when your mortgage offer expires - my new build property was delayed to a date beyond my mortgage offer expiry date - you cant just get it extended - you have to go through the whole process again - which may mean the amount you are offered reduces / not offered at all whilst in prohation. - NatWest don't consider anyone if they haven't been in their current position for 6 months as far a I am aware.

[Ebized]

pm Sarnie that's his business

 

http://www.350z-uk.com/topic/18521-mortgage-advice-life-insurance/

[veeg33]

Thanks guys! Much appreciated

[hensh65]

I had this exact same issue in January this year, move in date was March and I was going for the 2nd interview in Feb after already having everything in place. I said to the adviser at the time, she just said she didn't need to know as long as the new job isn't on less money or "self employed". That was bank of scotland(Lloyds).

[veeg33]

I had this exact same issue in January this year, move in date was March and I was going for the 2nd interview in Feb after already having everything in place. I said to the adviser at the time, she just said she didn't need to know as long as the new job isn't on less money or "self employed". That was bank of scotland(Lloyds).

Thanks mate!

[Sarnie]

Which lender is this?

[veeg33]

Which lender is this?

It's Santander. Mortgage offer end on 27th July and I'm still not in yet. Lol. It's been delayed for 7 months now. I'll PM you mate, will need to look into Mortgage Insurance for my missus.