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Sick leave from work implications when in middle of buying a house

  • 25-02-2019 7:19pm
    #1
    Buying house2020
    Registered Users, Registered Users 2 Posts: 46 ✭


    Gone sale agreed, not quite at the stage of drawing down the mortgage yet, what are the implications of taking sick leave from work right in the middle of the house buying process? Would it effect my mortgage application with the bank or my mortgage protection?


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,579 ✭✭✭✭Victor


    An important part of it would be whether this a few days because you have a chest infection or 6+ months because you have cancer.

    I suspect the bank with demand health / life insurance or other assurances.


  • #3
    PJOH
    Registered Users, Registered Users 2 Posts: 13 ✭PJOH


    H


  • #4
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,077 ✭✭✭3DataModem


    Do you have the loan pack issued? If so, then the bank won't care as long as you close within the period of the loan pack.

    Do you have the mortgage protection approved? If so, then make sure you don't let the approval expire.


  • #5
    hanaimai
    Registered Users, Registered Users 2 Posts: 207 ✭✭hanaimai


    When we got our mortgage protection offer, there was something in the letter that said you must notify the insurance company of any material changes in circumstances that might occur before the policy starts. As the poster above said, it kind of depends on what type/length of sick leave you're looking at. If it's anything that might affect your mortgage protection insurance you'll have to let them know though (of course you can not tell them, but then you risk your cover being essentially useless in the future).


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