After getting a new job, how long (ish) before you can get a mortgage?

Caporegime
Joined
13 Jan 2010
Posts
32,572
Location
Llaneirwg
As above, looking to move jobs/area and looking at getting a mortgage after however long.

What sort of time are we looking at? I was hoping for 6 months ish. Not 2 years hopefully!

Similar sector and straight from job to job.

Ltv would be about 75pc if that helps
 
Soldato
Joined
9 Apr 2007
Posts
13,561
Ours wanted 3 months, but I'm sure they asked how long you had been in current job as well, and a mortgage application is not something you lie on.

I changed jobs and they noticed my pay coming from a different source. They questioned or and I had to get letter front my manager as it was the same parent company so continued service.
They wanted me to be out of any probationary time.
 
Soldato
Joined
14 Mar 2005
Posts
16,820
Location
Here and There...
I changed jobs mid way through a mortgage application and supplied pay slips from two different employers the mortgage company didn't mind provided the income was at the right level. Just be open and honest as you go through..
 
Caporegime
Joined
21 Jun 2006
Posts
38,372
My fiancee had to supply a letter from the company proving she is no longer on probation and has a full time contract. She only been at the job for 3 months I believe.

it's standard protocol when i first joined my new place. i couldn't even get a loan for like £5000 as I was on probation. never mind borrowing £200K for a house
 
Caporegime
OP
Joined
13 Jan 2010
Posts
32,572
Location
Llaneirwg
Makes sense. I assumed I would have to pass a probation period. I wouldn't try and lie. Nor would I want to take a mortgage before passing probation!

Thanks, this is what I was hoping/expecting
 
Soldato
Joined
14 Mar 2005
Posts
16,820
Location
Here and There...
Probation periods are so funny does anyone know anybody who has been given the boot during probation?

My mortgage company didn’t bat an eyelid when I told them I had changed job I even gave them a mix of payslips for the application.
 
Soldato
Joined
8 Nov 2002
Posts
3,422
Location
Near Bristol, Uk
Probation periods are so funny does anyone know anybody who has been given the boot during probation?

Yes. We have let a few people go within probation as they had clearly lied about their skill level (heavy SQL/stats role). And the lady that sits next to my partner at her work was let go in probation, typos and slow doing admin work.

Never ever ever lie on a mortgage application, you will get black listed and they all share info via a central database!
 
Caporegime
OP
Joined
13 Jan 2010
Posts
32,572
Location
Llaneirwg
Yes. We have let a few people go within probation as they had clearly lied about their skill level (heavy SQL/stats role). And the lady that sits next to my partner at her work was let go in probation, typos and slow doing admin work.

Never ever ever lie on a mortgage application, you will get black listed and they all share info via a central database!

Sounds like you have a stats sql job going?
Gonna be tougher finding BI/data analysis work in Cardiff than Bristol
 
Soldato
Joined
8 Nov 2002
Posts
3,422
Location
Near Bristol, Uk
Sounds like you have a stats sql job going?
Gonna be tougher finding BI/data analysis work in Cardiff than Bristol

The case above was a few years ago (quite a few!)
But we did have an opening due to one of the team finding another job closer to home, but filled it about 2 weeks ago. Advertised for a week, lots of CVS, ten suitable from CV, 1 was perfect based on interview and start in a few weeks.
 
Soldato
Joined
27 Mar 2013
Posts
3,818
Location
Nottingham
Some lenders dont require it at all, i can't remember who I think nationwide but if you show proof of work contract you dont even need to have had a payslip yet. However i think those ones may require a guarantor.

Although I know of this from graduate friends so it may be some kind of graduate scheme Idk
 
Soldato
Joined
18 Oct 2002
Posts
4,898
Nationwide are pretty flexible about this - I got a mortgage with them on the basis of an offer letter from my new employer a month before I was due to start a new job at a new company. There were no special requirements other than having to provide a signed letter from the new employer confirming a start date. I had 6 months probation period and this was not an issue.

These sorts of circumstances are where a mortgage broker is well worth using. They will know which lenders will accept these circumstances so you're not wasting time and credit checks with inappropriate lenders who will decline the application later in the process.
 
Soldato
Joined
8 Nov 2002
Posts
3,422
Location
Near Bristol, Uk
These sorts of circumstances are where a mortgage broker is well worth using. They will know which lenders will accept these circumstances so you're not wasting time and credit checks with inappropriate lenders who will decline the application later in the process.

Its more than that....
On each application is a question along the lines of 'Have you ever had an application for a mortgage declined'.... If you fail a test due to work history with one lender you are duty bound to be honest to the others (as they do share information!!!) and answer that honestly, which will result in at best extra questions, at worst another decline.
Use a broker, worth their weight in gold!! Ours was calling their account managers at various lenders to discuss our situation (a complex let to buy setup) without giving specific personal details, so they were not declining us but could guide as to if we were acceptable or not.
She knew exactly which brokers were worth a chat and which were not interested, and got us a better rate than we could find (via various comparison sites etc)
 
Associate
Joined
21 Jun 2009
Posts
220
Makes sense. I assumed I would have to pass a probation period. I wouldn't try and lie. Nor would I want to take a mortgage before passing probation!

Thanks, this is what I was hoping/expecting

There are a number of lenders that will offer a mortgage within a probationary period subject to certain employment conditions. Suggest speaking to a mortgage advisor who can assess your specific situation.
 
Soldato
Joined
13 Apr 2013
Posts
12,407
Location
La France
Yep, quite a few people over the years, especially when I worked in the mobile telco business.

Them : “I know everything about HSDPA.”

Me: “What does that acronym stand for then?”

Them : “3G data, innit.”

We usually weeded out the chancers during the interview process, but we did have one bloke we binned on the spot during his probation after we found he’d falsified his references and his CV was 2 pages of utter fantasy. The agency that was supposed to have carried out background checks got binned as well.
 
Caporegime
OP
Joined
13 Jan 2010
Posts
32,572
Location
Llaneirwg
To be fair there's a fair few acronyms I don't know in my field!

I'm after a new job at moment,
Then after I secure that I'll move into rental
After probation period I'll. Look at mortgage.

I don't really want to get one in my probation period anyway!
 
Back
Top Bottom