(I mistakenly put this into the wrong thread last night, will try to delete now)
Dear Learnéd users,
We are in the following situation and would be very grateful for your insights.
After being in negative equity and waiting for the trade up option (on tracker), the day dawned and we have received an offer on our house which means we can very happily move house. Problem has arisen however that my husband had to hand in his notice on Tuesday this week because of an untenable situation with his boss, but has been offered a job in England which sounds like a much better job. It is also back as a civil engineer which he hasn't practicised for 5 years (he moved over to IT in those years). We would love to put in a bid on a house but are worried now about the change in circumstances and that the bank will not go ahead (the salary in England is about 20,000 more than what he was on in IT). The period of probation is 6 months, and the Irish subsidiary is very keen that he keeps to the 6 months.
My question is: should we inform the bank about our change in circumstances? I see that the last thread on this subject dates back to 2007 and as the rules have changed so much since, I'd be very grateful for your insights. I am the main bread-winner and the mortgage is primarily on the strength of my salary.
Thanks very much
Dear Learnéd users,
We are in the following situation and would be very grateful for your insights.
After being in negative equity and waiting for the trade up option (on tracker), the day dawned and we have received an offer on our house which means we can very happily move house. Problem has arisen however that my husband had to hand in his notice on Tuesday this week because of an untenable situation with his boss, but has been offered a job in England which sounds like a much better job. It is also back as a civil engineer which he hasn't practicised for 5 years (he moved over to IT in those years). We would love to put in a bid on a house but are worried now about the change in circumstances and that the bank will not go ahead (the salary in England is about 20,000 more than what he was on in IT). The period of probation is 6 months, and the Irish subsidiary is very keen that he keeps to the 6 months.
My question is: should we inform the bank about our change in circumstances? I see that the last thread on this subject dates back to 2007 and as the rules have changed so much since, I'd be very grateful for your insights. I am the main bread-winner and the mortgage is primarily on the strength of my salary.
Thanks very much