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After, on the off chance something goes wrong you don't want to be without a job
Sorry, the poster below is right. I was talking about when to put 2 weeks notice in.
I would accept. However, I would assume that the offer will be cancelled if something significant emerges from the checks. Significant might mean a criminal record that you haven’t disclosed or similar. It is unlikely an old employer will give a bad reference without clear justification and you could legally challenge them. Ultimately it depends on the wording of the offer and whether you will fail the checks - you will probably know the latter. The reputation of the employer is also important. Employers do very occasionally cancel offers for all sorts of reasons and some may take risks in doing so.
That’s probably true. I would add issues like falsifying your cv - typically claiming qualifications you haven’t got etc. But it can also happen for factors beyond your control particularly for smaller firms, eg a client contact gets terminated or they start a redundancy programme. Of course in the latter circumstances you might make a claim against them depending on prevailing employment laws but it won’t add up to much and they know it.