'My wife lost her job and we're buying a house - do we need to tell our mortgage provider?'

Every week we ask an expert to answer your financial problems or consumer disputes in the Money blog.

Today, we tackled this issue sent to us by a reader in Shropshire, who writes: We are due to complete on our first house in a couple of weeks but my wife found out last week that she's being made redundant. She works in sales and is likely to get another job soon.

All our credit checks have been passed. Do we need to disclose this? The Money team answers...

First, we are sorry to hear about your wife's redundancy. This kind of thing is unwelcome at any time, but if you're in the process of a house move - one of life's most stressful events - it can be particularly gut-wrenching.

Do you have to tell your lender? Money regular David Hollingworth, associate director at L&C Mortgages, says: "There will be a requirement for the applicant to let the lender know that there's been a change in their financial circumstances." Most lenders will explicitly stipulate that you have to make them aware of a change of circumstances, such as redundancy. If you don't, it could have a financial impact, says Natalie Bradley, partner and conveyancing specialist at Stephensons.

"The client could commit themselves to an exchange of contracts. The lender may then carry out another credit check (some do but it is rare) and ask for further payslips," she says.

"They then may withdraw the mortgage offer as they become aware of the change in circumstances. If this were to happen the client would then lose the 10% deposit given on exchange." She also says if the buyer did not consent to their solicitor telling the lender about the redundancy, the solicitor may pull out of acting on their behalf.

"Naturally, the client does not really want to put themselves in a position where they buy a property with no income to pay the mortgage. This could lead to repossession which would adversely affect their credit rating," Natalie says.

Will mortgage be withdrawn? It's possible for the mortgage offer to be withdrawn if there's a "material change in circumstances.