Originally Posted by Evenstevens
Does anyone know if for example you were approved for say 200k but you found you only actually needed 180K are you obliged to take the full amount from the council or can you just take what's needed?
Also, if you are approved for this based on salary and you buy a house and then change jobs down the line and your salary is over the threshold is that an issue or is it more about what your salary is at the time of application?
You only take what's needed (up to 90% of the purchase price), you'll be under no pressure to take out more than that.
As for the second one - It seems to depend a bit on which council you go to. Some don't ask for any further income details after approval - they wouldn't even find out you had changed jobs. Some do ask for up to date payslips at the time of draw down, but I don't know what the consequences are if you have changed jobs