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Will getting paid late or partial payments affect mortgage application?

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  • 30-06-2014 1:12pm
    #1
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭


    Hi guys,

    My fiancee and I currently have an agreement in principle with a bank and everything was looking rosy, looking at various houses.

    Last Thursday we were told in work that there was some cash flow issues and we wouldn't be getting paid that Friday.

    Today we're are being told that they are hoping to make a partial payment in the coming days and they are hoping that things will get sorted.

    So will this look dodgy when the bank asks for my payslips and current account details?

    I'm a bit worrried. :(


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    #2
    Mrs OBumble
    Registered Users Posts: 25,960 ✭✭✭✭Mrs OBumble


    Ahh, it not only looks dodgy, it IS dodgy.

    Your job is clearly under threat if the company has problems financing their payroll and they are only hoping that things get sorted.

    Get that CV circulating now. Rotten timing for you I know, but better that it happens this side of signing your mortgage than the other side.


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    #3
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭um7y1h83ge06nx


    Thanks.

    Yup, you told me what I was thinking but was hoping you would say something more positive! :D

    The hilarious thing is that a few weeks ago we looked great on paper, lots of savings, 2 decent jobs, low LTV... :(

    We were even gearing up to put a first bid in to a place towards the end of the week.

    Fun times.


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    #4
    Mrs OBumble
    Registered Users Posts: 25,960 ✭✭✭✭Mrs OBumble


    Sorry 'bout that now.

    I could have lied, but that's not helpful.


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    #5
    quadrifoglio verde
    Registered Users Posts: 3,670 ✭✭✭quadrifoglio verde


    Lia Lemon Utensil wrote: »
    Thanks.

    Yup, you told me what I was thinking but was hoping you would say something more positive! :D

    The hilarious thing is that a few weeks ago we looked great on paper, lots of savings, 2 decent jobs, low LTV... :(

    We were even gearing up to put a first bid in to a place towards the end of the week.

    Fun times.

    Id nearly be counting my lucky stars. Thing about it, had you got the mortgage two weeks ago and moved in somewhere, imagine how crap it'd be now or in six months time if the job went the way of the dodo. I can't imagine anything more stressful than something like that happening.
    Just hope it was a blip. It can happen with some companies the very very odd time, but if it happens regularly id be worried. As Ms O Bumble says, get the CV out. It won't hurt to have something else lined up anyway, although that may affect the mortgage application as well. sorry


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    #6
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭um7y1h83ge06nx


    @Mrs OBumble, no I definitely wouldn't have expected you lie. :)

    @quadrifoglio verde - true, could be worse.

    Well they are paying half our wages tonight so that's something. They appear confident that things should get sorted out and they will have an update towards the end of the week (although they would say that either way).

    I should get the CV updated alright in case the worst happens.

    Hopefully it is just a blip in the radar but we'll see I guess. Thankfully the other half has a permanent position in the public sector so it's not all bad.


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