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Job change during home loan tenure

Can I change jobs or leave my job for self-employment during the home loan tenure?

Apnaloan.com Research Bureau

10 Aug 2007

Can I change jobs or leave my job for self-employment during the home loan tenure?

You can switch jobs during the course of your housing loan or leave your job for self-employment during the loan tenure. However, you have to keep the lending bank informed of the change. If your repayment happens by way of deduction against salary, you have to get this deduction from your new employer. Alternatively, arrange for post-dated cheques for the installments. Also, send a copy of your new appointment letter to the bank.