Not exactly Thailand related...sorry. Perhaps you can give advice anyway.

I presently own and rent out a flat in the uk and I'm in the process of remortgaging from a normal mortgage to a buy to let with a 15% deposit. I am also applying for a new job and was wondering is it normal for the mortgage company to contact your employer for proof of income in a buy to let situation(they already have wage slips etc, carried out their valuation and have provided me with a mortgage offer.).

I don't want to be in a situstion where the mortgage company contacts my employer for proof of income only to be told that I have already left their employment. Unfortunately this new position may be too good to turn down.

Thanks

Not exactly Thailand related...sorry. Perhaps you can give advice anyway.

I presently own and rent out a flat in the uk and I'm in the process of remortgaging from a normal mortgage to a buy to let with a 15% deposit. I am also applying for a new job and was wondering is it normal for the mortgage company to contact your employer for proof of income in a buy to let situation(they already have wage slips etc, carried out their valuation and have provided me with a mortgage offer.).

I don't want to be in a situstion where the mortgage company contacts my employer for proof of income only to be told that I have already left their employment. Unfortunately this new position may be too good to turn down.

Thanks

If they have carried out the valuation it is unusual to contact the employer, although I have known it to happen. How long has it been since your application? Ask your Wages Department if they have received a request yet. If not, and things are progressing you can be pretty sure they will not. If the new job has a higher salary than the present, the Mortgage Company normally doesn't mind in any case, as length of service is only one aspect of the decision.

Write to the lending company and tell them you are changing jobs.

i have several buy to let mortgages on properties i rent out......

with the buy to let mortgage, wage earning are not taken into account.

As long as you can provide a deposit of usually 15% deposit, although some lenders might request 20%....also they will look into projected rent, this will have to cover 125% of the mortgage repayments (dont try to bluff on this figure as they do take this into account on your valuation/survey)

so dont worry about income its not even a issue.