Hi, I'm Steven. (Richard Feynman, once upon a time)

So just to clarify, staying employed only to get the loan then quitting on the day of settlement knowing in advance that you would have little income during the next 12-24 months... OK or falls under the "change of circumstances" tickbox?

Waldo would have an OK cash buffer is that sufficient for a lender?

 

But isn't that what both you and Steve are recomending (and doing in Steve's case)? Stay with the job until I've made all the purchases I want, only then quit the job. Or are you still working full time Steve - and as Redom has suggested and running a bare bones business hoping to make it full time?

Intentionally staying with the job until a loan is approved is exactly what you're saying would be trouble?

Excuse the questions, I obviously don't want to find myself in trouble.

 

@DaveM - thats not OK, pretty clear to me if you 'know' your going to quit. You know your quitting, not 'thinking about it' and it doesn't sound very conditional. Its a different scenario to 'thinking of quitting' and would likely be outside responsible lending, particularly with a severe income drop. Loan terms are 30 years, there will obviously be changes in financial circumstances within that time period.

Waldo, if your simply 'thinking' of quitting, i don't think thats an issue. If you've written up your resignation letter, dated it, signed it and are waiting till your 2pm settlement to send it in at 3pm, i'd advise otherwise - that may land you in trouble. Thats a lot more than thinking about it, its 'knowing'.