My job

The one thing I didn’t mention to my lender was my employment situation. Well, not in as much detail as I could have done. I answered all the questions that were put to me in the application form. I answered completely and truthfully. However, there were certain things happening in my life that the form didn’t ask. So I didn’t tell them.

I had been in the same job for about 4 years. I expect lending institutions like to know that you are in a steady job. It helps keep the repayments coming. The application form asked questions about my employment history and I responded with exact dates and salary. They asked about my personal finances and I responded accurately and completely.

What they didn’t know was that the company I worked for was in the middle of a restructure. This restructure had been on the go for some time, and my job had been targeted as one that had to go. I had managed to procure an alternative job; I then sought permission to quit my current job early, and start the new job the day after the old one finished; which was nice. My separation package made up a substantial proportion of the deposit for the property I wanted to buy. So, redundancy was a good thing for me. Though I have to say, I did enjoy the job very much, I knew it well and did it well, and I knew I was going to miss it. That’s life I guess. Apart from my annoyance with my employer of what was going on, because I thought management were making some bad decisions, the payout was going to help buy me a property. So, to some extent, I have to thank them for providing the means of purchasing my second property. It wouldn’t have been possible without the separation package.

Restructure: that’s a term more and more people are becoming familiar with. I’ve met with restructure experiences more times than I would have preferred. This restructure was an on- and off- and on-again experience that was really pissing me off. More than a year previously there had been a staff announcement about an intended restructure. Jobs were to go. Then notice came that my job was safe; it wasn’t going to be targeted. The restructure wouldn’t affect me. Then about six months or so later it was on again and my job was to go. Then once again they changed their mind; my job was safe. Then there was a new development and my job was to go, and it was definite this time.

It makes it difficult to plan your life when the crowd you work for can’t make a decision and stick to it. It makes you wonder about the calibre of the management. I was determined not to let their sloppiness upset my life. Though, their decision had upset my life. There is no getting away from that.

I used to live in Melbourne. I left Victoria, selling my house to move to the ACT and a new job. This job. And here I was being retrenched from it. Yes, I felt put out. My house in Melbourne didn’t sell for as much as I would have liked, the new house was purchased in Canberra for more money than I would cared to have parted with, and it was a smaller house than my Melbourne place.

Anyway, the new job had a better salary, which always helps, but the job was only a six months contract, with the possibility that it would be made ongoing. My intended lender didn’t ask me if I had plans of quitting my current job, or if I was considering changing jobs, or whether the new job was in a more or less stable environment. They didn’t ask. So, I didn’t tell them. Well, why would they? They would have had no idea. They probably assume people wouldn’t be asking for a loan unless you have a job that enables you to make the repayments.

I felt relatively sure I would keep the new job. I didn’t want to jeopardise my chances of not being approved for the loan. So, I didn’t say a word.

I suppose at some point the lender could have contacted my employer to check me out. Perhaps they did. Wary of not being approved for the loan, I kept quiet about it. Each time I received an email or phone call from the lender I felt on edge. I was always expecting a question on my employment situation that would have given the game away. Fortunately, it never happened.