Mortgage Approval and Switching Jobs

L

LitefromSKY

Guest
Hi all. Sorry for asking, but we need some advice.

We have been almost approved for a mortgage for 700K, but in between my husband lost his job. The bank has now come back and asked for a letter confirming my husbands car allowance (which of course is not possible from his old employer)

He is close to getting a new job with a similar package but we are wondering if we should let the bank know at this point, or what to do.

Thanks in advance

LitefromSky
 
If you cannot provide them with a letter, how do you intend to keep this information from them?

Your only option appears to be to stall them until you can get confirmation from the new employer.
 
Thanks for the reply. To clarify, what I am very worried about is if my husband is in a new job, will we still qualify for the same about (or at all) given that he will not have been employed for 6 months.

Will it be a new application (from the Bank's point of view) or simply the same application with new employment details.

Thanks again
 
I'd imagine the lender will want to know that no probationary period is to be served with the new position which probably won't be the case.
 
Last edited:
Hi there,
We were trying to switch last November - Mr. Bear was in probation as he had just started a new job - the broker told us that no bank would touch us at the moment so we had to wait until he was made permanent..
 
As Ccovich pointed out, if you they are looking for a letter from your husband's previous employer you will have to come clean. Does your husband have to complete a probationary period? Even if he has the lender may be willing to proceed, depending on the strength of your application...
 
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