Husband has lost job, bought a new house which completes end of August

[MillieMoo23]

My husband has just been let go by his company as he didn’t pass his probation and the role isn’t working out. We have bought a new build house, paid our 5% deposit, and completion is set for 23 August. I am at a loss as to what to do. He is the main breadwinner and bringing in 2/3 of the money. Thankfully we’re currently living with my parents until we move, but my salary doesn’t cover all the outgoings and we are meant to be putting all the spare money into savings to pay for the solicitors and house purchases. We’ve already built a savings pot to pay for the solicitors, but spare money will now have to pay for the outgoings rather than save for house furnishings
I have no idea where we stand with regards to the mortgage. Do I need to be informing anyone or hope that he finds a new job or at least something temporary to bring some cash in?

[Lisaw1971]

Oh dear! That’s terrible news & timing! I’d think your mortgage offer will be withdrawn if he doesn’t have a job! Such terrible timing! I don’t think many lenders would lend on a temporary job so I’d be looking quick smart for a permanent position ASAP
Sorry - hope it works out for you both!

[disneyhol]

I would hold off telling anyone and look to find a new position fast. May be worth looking into the T&C's as I know my mortgage required for us to be in a full time job 3 months minimum, if this is the case then you may have to mention it.

Really sorry to hear, I am sure it will all work out x

[Lisa123wm]

Really sorry to hear this. Unfortunately you must inform your mortgage lender as your circumstances have now changed.
Hope he finds a new job soon.

[FlorayG]

I think what Novocastrien was trying to say was s/he is amazed that the mortgage company offered them one, not that they were 'stupid' to get one
I must say I'm also surprised they offered to you. Sorry can't offer advice, just hope there are plenty of jobs about in your area

[novocastrian]

OP you get sorted

[Snowball24]

I.agree, I didn't think you could get a mortgage if still in a probation period ?

[Mickey's Magic]

Thats terrible news, I'm sorry to hear that your husband has lost his job. Unfortunately this is a major change of circumstances and you will need to inform your lender. I would take advice from the solicitor who is dealing with your purchase but remember that they are also acting for the lender in mortgage transactions.

With reference to lending in probationary periods, if it is a particularly long period such as with the Police (2 years) you find lenders will still consider it.

Hope it all works out for you.

[MillieMoo23]

We got our mortgage with the lender knowing he was in a new job with a probationary period of 6 months. Thanks for all the kind messages. I guess a phone call to our mortgage advisor is inevitable

[Guest]

OP, as to what to do now, well I would actually delay that call to the mortgage advisor, because it will probably be game over if you make it and you will lose your deposit.

I would read the small print of your documentation, to see exactly what your obligations are regarding notification of a change of circumstances, put your efforts into job hunting for the immediate future and also work on a budget to see if you could weather this hiccup or if you would be better off pulling out now. Do all of this before alerting anybody else.