A bit of a rant, sorry,
So we are thinking of moving house. Various reasons. So we start looking at what is available. Some places that would be good and should be affordable with a little bit more mortgage. So we look at getting advice on selling and advice on the mortgage.
We have a 5 year fixed, (1 year in) so we need to stay with current lender. Phone them up to get an extension (not a huge amount). Go through all the questions...
Hmm. My wife is pregnant. OK. Will be on maternity leave for a while. OK. 'We will need proof that she will be returning to work'. Fine we will get a letter from employer. Other than that it will be tight, but we should be ok (don't want to use all of it anyway). 'OK you have a mortgage in principle.
Ta.
Send off all the stuff, including the letter. Today I get a phone call from them.
Bank:Ummm sir, your letter doesn't state she will be 100% returning to work, just that she fully intends to and is expected to.
Me: Yes. The employer can't possibly say she will 100% definitely return. How could they. It is possible that she would decide not to (she won't of course- we can't afford that).
Bank: That is true they never could have said that.
Me: So why did you say we could get the mortgage and ask for a letter that was impossible for the employer to write.
Bank: We probably shouldn't have done that, but we can't underwrite the loan unless the employer can say that she will return with 100% certainty.
Me: But you just agreed that that is impossible!!!
!
!
We have just spent well over £1000 putting the house on sale etc. Nothing has changed. They agreed in principle. Unless the duty manager (he is going away to chat with him as this is an unusual situation) can over-rule. We are bu@@ered. AAAARGGGHHHHH! And it looks like the house move is off.
I fully expect a PB time on my cycle home tonight.
So we are thinking of moving house. Various reasons. So we start looking at what is available. Some places that would be good and should be affordable with a little bit more mortgage. So we look at getting advice on selling and advice on the mortgage.
We have a 5 year fixed, (1 year in) so we need to stay with current lender. Phone them up to get an extension (not a huge amount). Go through all the questions...
Hmm. My wife is pregnant. OK. Will be on maternity leave for a while. OK. 'We will need proof that she will be returning to work'. Fine we will get a letter from employer. Other than that it will be tight, but we should be ok (don't want to use all of it anyway). 'OK you have a mortgage in principle.
Ta.
Send off all the stuff, including the letter. Today I get a phone call from them.
Bank:Ummm sir, your letter doesn't state she will be 100% returning to work, just that she fully intends to and is expected to.
Me: Yes. The employer can't possibly say she will 100% definitely return. How could they. It is possible that she would decide not to (she won't of course- we can't afford that).
Bank: That is true they never could have said that.
Me: So why did you say we could get the mortgage and ask for a letter that was impossible for the employer to write.
Bank: We probably shouldn't have done that, but we can't underwrite the loan unless the employer can say that she will return with 100% certainty.
Me: But you just agreed that that is impossible!!!
!!We have just spent well over £1000 putting the house on sale etc. Nothing has changed. They agreed in principle. Unless the duty manager (he is going away to chat with him as this is an unusual situation) can over-rule. We are bu@@ered. AAAARGGGHHHHH! And it looks like the house move is off.
I fully expect a PB time on my cycle home tonight.
