My partner and I (both FTBs) are in the process of getting approval on a 100% mortgage with PTSB. We've got an eye on a new phase of a really great development which has just been released. The EA thinks the houses will be ready around Christmas . I don't really care when they're ready as it will give us more time to prepare for the move and save etc etc and we're in no great rush to actually move in.
However...
I'm concerned that the mortgage offer we get now, based on our current earnings, will lapse in six months, which will be before the house is ready. If the bank ask to see current payslips etc at that stage, it's going to cause problems as I will be doing a 9 month post-graduate course from October to May and may not be earning very much during that time.
Do mortgage providers always check the current employment status and payslips of applicants, when over 6 months have passed between the initial mortgage offer and completion?
However...
I'm concerned that the mortgage offer we get now, based on our current earnings, will lapse in six months, which will be before the house is ready. If the bank ask to see current payslips etc at that stage, it's going to cause problems as I will be doing a 9 month post-graduate course from October to May and may not be earning very much during that time.
Do mortgage providers always check the current employment status and payslips of applicants, when over 6 months have passed between the initial mortgage offer and completion?