Mortgage house hunter approval, Career break

roadrunnermick

Hello

I have being re approved again for a mortgage by bank of Ireland with a houser hunter

I am getting a bit sick of waiting for a house to come up and have received approval for few months career break for travel

Will a career break affect my drawn down should if something come up in the mean time while I am away and I decide to go bidding or would affect further mortgage applications

Any input would be appreciated

Thanks

Lycoge

I would imagine it would affect your current mortgage offer. Before drawdown the bank will want to see your most recent wage slips and if these are non existent, you won't be meeting the conditions outlined in your mortgage offer letter. Best thing to do is call your branch mortgage advisor and discuss it with them.

Once you've drawndown there's nothing stopping you taking the career break then (once you can afford your mortgage repayments while not getting paid). House hunting / purchasing process can be stressful and you might want / need the career break once that's all completed, not before. We saw close to 20 houses before finding "the one". It can feel very slow, but you'll get there and it will all have been worth it! Best of luck with it whatever you decide to do.

johnnyskeleton

My advice, with the caveat that no one knows how the property market will go, is that you should take your career break, travel the world, enjoy yourself and not even think about property until you get back. If you have to build up 3-6 months of work after coming back from the career break, so be it.