People commonly ask us why their employment situation matters.
If the banks have the house as security, surely this is enough to protect against any loss they incur.
What most people don’t know is that selling property is a last resort.
Most banks don’t want to ruin their reputation by engaging in irresponsible lending practices and lending to those who can’t fulfil their financial obligations.
Banks care about their brand (more than they do about you!) and as such, they need certainty that the loan will be repaid, and this is evidenced through the documentation you provide them with, in terms of your income and employment.