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So,
The lucky people at AZ in Alderley will probably be losing their jobs now everything is moving down to Cambridge, but it probably won't be happening for a year or two.
Would one of those hypothetical people be able to get a mortgage to buy a house in Manc given that the bad thing is still a few years away and lots of jobs don't even last 3 years normally.
I would expect that unless you have been issued with a letter stating that you are affected by immanent redundancies as in next 3 months [s]you[/s] they should be fine. From memory this was the case for one of my colleges at my last employer, another one got a mortgage and exchanged the Monday before the letters wen't out on the Friday, he still has his house and a new better paying job.
Probably be happening a lot sooner rather than latter.
All mortgage comapnies take into account your ability to repay the loan they offer, using various tick box responces along with local knowledge.
Don't tell them-sorted
As an employer I have been asked to give references for employee's mortgages. One of the questions is along the lines of: [i]"Is there any reason you are aware of this person's employment status may change"[/i]
However its not necessarily a deal breaker, and not every applicant gets asked for a reference (I think about 1:10 of my employees do). Possibly most likely if they are at the upper limit of borrowing or its their first mortgage / relatively new to the company etc.
along with local knowledge.
That I very much doubt given most people deal with a centralised office somewhere eg India...
Another 1700 skilled, highly paid jobs coming to Cambridge, no wonder house prices here are still rising at 10% per annum.
Apply for the mortgage, make sure you they are not overstretched on payments (ie they could make then with a lower paying job) and have a bit of cash in reserve
Another 1700 skilled, highly paid jobs coming to Cambridge,
yeah, great isn't it.
Not really, place is pretty packed as it is, and they're building on every spare space / all the surrounding fields. All the local industry in town is being pushed out and converted to huge blocks of flats (starting at £300k for a one bedroom flat). You need a huge salary to afford a house or flat in town. Most Victorian railway cottages go for £400k + and a nice town house will set you back £1m+.
Sorry, I should have added a sarcasticon (!) I don't actually think it's great, I think it rather sucks
Anyway, anyone got any info on how far out the impending redundancy has to be to have no effect on a mortgage application?
Maybe ask one of the poor buggers from Charnwood how it worked for them? I bet they are delighted to be moving again!
footflaps you need to invest in some 3 tier bunkbeds for that garage of yours.
Says footflaps - who owns a house in the city and just built the worlds best shed 😉
I'd say the mortgage company might well look at your current employer and realise you are at risk. But life goes on, either you believe you can find new work and you want to take on the risk or you don't!
Good luck either way.