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Don

2 years ago

Hi Guys.. Thanks for replies. I Still got my Job.. I'm just curious what will happen "IF" someone loose a Job.

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gregory

2 years ago

what would happen is up to you. if you find a new job - probably not a problem. if you don't the loan would be declined. most lenders want new payslips when moving to unconditional. that is just one of the perils when there is a long time lag between transactions.

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Michael

2 years ago

Hi Don, I wouldn't advise you not too say anything to your broker or lender yas you have a duty to disclose any material change in circumstances to meet your repayments. Needless to say this would be an issue provided a letter from your new employer confirming start date, salary and employment conditions. Depending on the loan to value ratio if it's under 80% you're more than likely going to encounter minimal issues however if in LMI territory it's best to be in the same industry. I do have two lenders who accept very short term employment and current rates are in the vicinity of 3.89-4.81% depending on LVR. Feel free to navigate to my page and get in touch. Regards Michael

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Paul

2 years ago

Hi Don, all the mortgage advisers on HashChing know what they are doing generally, seek out an adviser that is local to you and get some recommendations. Your question is to broad to get guidance online. Go and speak to someone and make sure you feel comfortable with their serv****.st of luck. Regards paul

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Fiona

2 years ago

Hi Don, I am sorry to read your situation, however, as a Broker who does a large amount of Construction Finance, this is not the first time that I have come across this situation. Firstly, you must make your broker aware of the change. They will likely have also had a similar situation before. Depending on which bank your pre-approval is with, if you have moved onto a new job relatively quickly, this may not present a problem. It will depend on which bank, and what LVR you are lending at. If the bank you have chosen or the Mortgage Insurer will not accept the change in employment, then your broker should be able to assist you source another lender that meets your needs. If you want to discuss further, please feel free to get in touch with me. All the best.

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Thomas

2 years ago

if you lost your job, which will put yourself in a hard ituation to get loan approval. try to purchase a property ASAP.

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Andrew

2 years ago

Hi Don, if your financial circumstances have changed, then you need to notify your broker or lender. A change of employment will require a letter from your new employer confirming your salary, date started, permanent / part time and not on probation plus two recent pay slips. Providing you haven't lost income and haven't changed industries / job title, then the lender should still proceed. To discuss in more detail, please contact me via my Profile. Thank you for your question, Andrew.

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Andrew

2 years ago

Hi Don, if your financial circumstances have changed, then you need to notify your broker or lender. A change of employment will require a letter from your new employer confirming your salary, date started, permanent / part time and not on probation plus two recent pay slips. Providing you haven't lost income and haven't changed industries / job title, then the lender should still proceed. To discuss in more detail, please contact me via my Profile. Thank you for your question, Andrew.

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Andrew

2 years ago

Hi Don, if your financial circumstances have changed, then you need to notify your broker or lender. A change of employment will require a letter from your new employer confirming your salary, date started, permanent / part time and not on probation plus two recent pay slips. Providing you haven't lost income and haven't changed industries / job title, then the lender should still proceed. To discuss in more detail, please contact me via my Profile. Thank you for your question, Andrew.

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Matthew

2 years ago

Won't be a problem if you have a new job. Most lenders are fine as long as your ability to repay the loan isn't affected. Its even better if the new job you get is in the same industry. Need any further help feel free to get in touch,

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Guido

2 years ago

Hi Don If you can secure another job, you could say nothing and hope everything works out. However, you have somewhere in your application or in the offer to loan a sentence like, Are you or do you know of any financial changes in the near future? This means you have to inform your lender of the (hopefully just) jib changes. Most lenders will have no problem with this if you can show you've got a new job How do you think to pay the loan if you have no work? I think you would be better of with informing your lender and they chancel to loan, and reapply when you are in a new job for 6 months or so. All the bes

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James

2 years ago

Hi Don, Ideally you want to secure a new role prior to the land settlement. There are banks that would accept your application while you are on probation. All the best. Cheers james

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