given notice at work

D

deem

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I have just applied for a mortgage, with my partner, we are getting married this year, However i started a new job in february with a six months probation period. I received a letter this week five weeks before my six months probation to say my services were no longer required, Nothing to do with anything i have done (not sure if matters with banks) but anyhow, no work, thought expansion was going to happen but didnt.

Will I be able to still get my mortgage, buying house off plans, wont be built for at least 8 months. Do I need to tell them, someone help.

PS i am an accountant so shouldnt really have a problem getting a job, but am i obliged to let them know the change in circumstances.
 
Hi deem.

Bad luck on the loss of your job.

I was in a similar position myself, but I gave my notice in the job I had at the time I signed up for the mortgage, and accepted a new position in another job before I drew down the mortgage (my girlfriend was in the same position-joint purchasers). I don't recall the bank asking us our employment status at the time we drew down the mortgage, and I don't recall us telling them-9 months later, no problems. As long as you are sure you can meet the repayments-nothing to worry about IMHO.

I'm sure one of the brokers who contribute to this site can clarify?
 
Deem,
Was it outlined to the bank(perhaps on the salary certificate) that you were currently on a probationary period?
If so they may not grant the mortgage until this has been served
 
yes the salary cert says on probationary period, to end end of august, but employer stated that employment expected to continue. Thanks to you both for the replies, even though not what i wanted to hear Savvy
 
Hi Deem

it is important to note that some lender will carry out final salary checks a week or so before your solicitor requests the loan cheque (there is only a few who do it on every case and a few who do spot checks), if you have received a formal loan offer already and advise the bank that you no longer have a job, the offer will be pulled, but if you hold off and get a new job and pass your probation period you should have nothing to worry about

Deirdre Leonard
leonard@rea.ie
 
just to let you know that got mortgage approval letter in principal today, just got phone call from broker. Thanks for the help
 
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