Mortgage suppliers contacting work

tippgod

Hi all

My sister got approval for a mortgage but she had a change in circumstances in work. She got offered a new similar
job in a different company. Do mortgage company's contact your workplace after you have got approval.
She is worried cause she has just gone sale agreed and doesn't want to go back and get approval again

DublinDilbert

tippgod wrote: »

Hi all

My sister got approval for a mortgage but she had a change in circumstances in work. She got offered a new similar
job in a different company. Do mortgage company's contact your workplace after you have got approval.
She is worried cause she has just gone sale agreed and doesn't want to go back and get approval again

Will she be on probation in the new job? Typically people are on 6 months at the start. They may ask for updated pay slips or notice from the bank statements. Best to be up front about these things they usually appreciate the honesty.

JimsAlterEgo

if it drags out they may ask for updated pay slips and if they discover then that the applicant is not being transparent , there may be issues

Evil-p

I just recently got a mortgage and the bank didn't recheck anything during the sale agreed procress but we went to an offer to closing in 10 weeks. I'd imagine if the sale was to drag on they may revisit pay slips etc.

Dearg81

tippgod wrote: »

Hi all

My sister got approval for a mortgage but she had a change in circumstances in work. She got offered a new similar
job in a different company. Do mortgage company's contact your workplace after you have got approval.
She is worried cause she has just gone sale agreed and doesn't want to go back and get approval again

They emailed my workplace after approval. I know someone who moved jobs after getting approval and their bank was ok with it but they did have problems when the offer expired. I think your sister will be fine unless the offer expires but she should really have talked to her bank before moving jobs.

seamus

The banks usually require a salary certificate dated within 6 months of the date of drawdown. So she could find herself a week from drawing down and being asked to provide a new salary certificate.Typically though if they have an up-to-date salary cert when they provide an offer letter, it should be OK.

BOI also required me to provide an up-to-date payslip every time I got an offer letter from them, separate to the salary cert.

So if she has already gotten an offer letter and the sale is definitely going ahead, she should be OK. If she's still house-hunting and has yet to go sale agreed, this is probably going to become an issue.

It would be worth reading over the documentation with her solicitor and getting their opinion. There's no reason to hide anything from the solicitor - they work for you and are legally barred from revealing anything to the bank. The T's & C's contain very specific provisions about informing the bank when there's a "material change in financial circumstances" or something like that. So the solicitor may advise her that being honest with the bank is the best approach.

Henry Ford III

tippgod wrote: »

Hi all

My sister got approval for a mortgage but she had a change in circumstances in work. She got offered a new similar
job in a different company. Do mortgage company's contact your workplace after you have got approval.
She is worried cause she has just gone sale agreed and doesn't want to go back and get approval again

If the new role is probabtionary that could easily change things.

tippgod

Thanks for the replys. She rang them up today and they were fine with it, as her wages are slighlty better and she just has to get a letter confirming her job from her new employer