Anybody psychic or clairvoyant? I really need some help and advice please. Please see question below?

Anybody psychic or clairvoyant? I really need some help and advice please. Please see question below.?

• I live in the UK with my wife and son. On Friday we exchanged contracts on a house we are buying (we currently rent). 2 hours later all my colleagues and I were told we were going to ...show more

• Answer:

  You don't need a psychic to tell you what to do. If you have already exchanged contracts on a purchase then you are legally bound to go ahead with it otherwise you will lose your deposit. You HAVE to find a new job and do so now, otherwise your mortgage offer will very likely be revoked and you will lose your new house as well as any deposit money you have paid. I would advise you to speak to your solicitor acting in the purchase RIGHT NOW; they cannot advise you correctly if they don't know the whole truth of your situation. EDIT: You are duty bound to advise your mortgagees of any change in your circumstances between the mortgage offer being made and the loan being extended. You have a legal obligation to tell them about this and it is up to them to decide whether or not they will still lend to you. Any loan is a risk, and it is the lenders decision whether or not they wish to take the risk of lending to someone who in reality has no job security beyond the next six months. I doubt they would. The point I'm making is that you have no way of getting out of the house purchase now other than to lose your deposit, so if you accept the transfer to Lincolnshire, you will still have to proceed with your purchase of a house in Kent. Can you afford to commute that distance daily? Is it physically possible to do so? If not, can your relationship stand the strain of you living apart? And can you afford additional accommodation in Lincolnshire? Could you afford to (and would you be prepared to) rent out this house you are buying and move to Lincs? These are all the things you need to be considering, and you don't need a psychic to tell you this stuff. They're your decisions, not fate's decisions.