Losing job before exchanging contracts on a house

RH1990s

I am likely to be dismissed and I'm just about to exchange contracts on a house. I'm frantically applying for lots of jobs and have some interviews. It's my first house and I really don't want to lose it and I've also had all the surveys done. I would only have 5k savings after putting down the deposit and paying solicitors fees. If I can't find another job in time before I return my contracts as signed, will I need to withdraw from the whole house-buying process? I'm so upset and heartbroken to be honest.

Reply 1

Zarek

I would get some advice from your solicitor about this. I imagine it’s a material fact for your mortgage application, so it would be very unwise to progress without saying anything. Depending on timings and your employability things just might be salvageable

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