Contracts signed and deposit paid and job gone

[antonio1111]

Hi,
So this week we just signed and payed the deposit. Just after that I get a dismissal letter. I will appeal and alrady have a solicitor to follow the case. However I am really affraid to lose the house.
My question is should I wait for the appealing answer to say something? I am even afraid to ask my solicitor mortgage.

Between the signed contracts and the drawdown they ask for more documentation?
I can easily pay the mortagage because my partner is working.

Thanks,
Antonio

 

[Brendan Burgess]

It's a tough one.

You are obliged to tell the lender that the circumstances have changed and when you do , they will do a review and will probably not give you the mortgage unless your partner's income is sufficient on its own.

If you don't tell them but tell your solicitor, she may feel obliged to tell them.

It's possible that you may have a clause in the contract that it is subject to the lender giving you the mortgage. If you have that, then you would get the deposit back.

The process with appealing your dismissal will take a long time and will not be resolved before you have to pay for the house.

 

[antonio1111]

It's a tough one.

You are obliged to tell the lender that the circumstances have changed and when you do , they will do a review and will probably not give you the mortgage unless your partner's income is sufficient on its own.

If you don't tell them but tell your solicitor, she may feel obliged to tell them.

It's possible that you may have a clause in the contract that it is subject to the lender giving you the mortgage. If you have that, then you would get the deposit back.

The process with appealing your dismissal will take a long time and will not be resolved before you have to pay for the house.

Thanks for the info! Yes, it is a though one.
Specially because the closing date would be in 2 weeks and the mortgage pay will be half that I am actually paying for renting. So would me much more affordable, and it would me allow to live with better conditions.

If I dont say anything what are the odds to be able to carry this process until the end? I still need to sent more documents?
If in the mean time i find another job what are the chances to keep the mortgage?

Thanks in advance!