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Mortgage Approved and losing job

house_Hunter_ · 2019-01-21 22:37:17

After saving up for a year we finally got mortgage approved with an exception for a new build house. Our happiness hasn't lasted long as a couple of days later my partner found out she was loosing her job. We are mortgage approved with exception for the next 6 months. We cant fathom just giving up at this point so are…

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#32 30-03-2020 2:27pm
Bargain_Hound

Registered Users Posts: 521 ✭✭✭

Join Date: December 2007

Posts: 498

I think we expected it but still shocked at the same time. Hopefully we are ok with providing the requested documentation but I think its a sign of what is to come and banks eyes are wide open.

We are only just one month over into approval. So my guess anyone who is close to 6 months expiry will be checked also.

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#33 30-03-2020 2:34pm
Wildly Boaring

Registered Users Posts: 3,646 ✭✭✭

Join Date: October 2010

Posts: 3591

It makes perfect sense for banks to check.

There is a sizable portion of the country need to be saved from themselves.

Nobody knows where the covid measures are going.
Temp layoffs could become permanent.
A worldwide recession is following.

The banks cannot evict.

Giving away money that cannot be repaid probably end in another bank bailout

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